Vietnam Central Bank Injects VND5.4Bln via OMO on Nov 2

The State Bank of Vietnam (SBV) pumped VND5.396 billion at 8% p.a. for 7-day window via open market operations (OMO) last Friday, the local newswire reported, citing data from the State Bank of Vietnam (SBV).

This marks the biggest monetary injection of the central bank through OMO since August 22, when the SBV had to pump up to VND13.025 trillion to ease liquidity tension for the whole system, following the arrest of former ACB Vice Chairman Nguyen Duc Kien.

On the same day, Saigon Thuong Tin Commercial Joint Stock Bank (STB) announced that Chairman Nguyen Van Thanh resigned after 17 years in power. Shortly after, Thanh was invited to work with local investigating agencies. The reason for the incident remains unknown as of now.

The central bank net injected VND4.975 trillion via OMO on Nov 2, after withdrawing VND421billion during the day.

In addition, the SBV sold T-bills of 91-day term to withdraw VND305 billion. The yield was flat at 6.8%.


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