On September 18th, the State Bank of Vietnam (SBV) continued to offer a large amount of bills to partly withdraw money.
The number of members participated and won at the bid also increased to 13 with 11 members in the session on September 17th, with a winning value of 14.999 trillion dong and term of seven days. The bill interest rate remained at 2.5 percent per annum.
That was the third consecutive sessions in which the operator issued bills to withdraw money. The total net withdrawal amount reached nearly 42 trillion dong (12 trillion dong on September 16th and 14.999 trillion dong on September 17th).
The SBV’s net withdrawal this time showed that the dong capital source and system liquidity are in a short-term abundance. It also indirectly indicated the possibility that the operator has purchased a large amount of foreign currencies to increase the national foreign exchange reserves.
Previously, in the session on September 17th, the average dong interbank interest rates continued to sharply fall by 0.11 0.15 percentage point across all terms of one month or less compared to the session at the beginning of the week. In particular, the rates were 2.54 percent per annum on overnight term, 2.68 percent per annum on one-week term, 2.94 percent per annum on two-week term and 3.36 percent per annum on one-month term.
The average US dollar interbank interest rate slightly increased by 0.01 0.03 percentage point across all terms, reaching 2.31 percent per annum on overnight term, 2.39 percent per annum on one-week term, 2.49 percent per annum on two-week term, and 2.61 percent per annum on one-month term.
