Vietnam Central Bank Net Withdraws VND181Bln via OMO on Nov 5

The State Bank of Vietnam (SBV) net withdrew VND181 billion through open market operations (OMO) on Nov 5, the local newswire reported, citing Reuters data.

Specifically, the central bank pumped VND341 billion at 8% p.a. for 7-day window and withdrew VND522 billion during the day.

The SBV also sold VND305 billion worth of T-bills under 91-day maturity at 6.8% p.a. yesterday [Nov 5].

The average interbank rate was recorded at 3.5-4% p.a. for overnight, up 0.5% from late last week and rose to 4-5% p.a. for 1-week term, up 0.5-1% p.a.

The low liquidity injection came out in the context that former STB Chairman Dang Van Thanh and his son Dang Hung Anh had returned home after being invited to work with the investigating agencies on Nov 2.]

The central bank net pumped VND4.975 trillion via open market operations (OMO) last Friday, marking the biggest monetary injection 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.

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