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Vietnam Central Bank Net Withdraws VND7.9Tln in October: VCBS

The State Bank of Vietnam (SBV) net withdrew VND7.07 trillion through open market operations (OMO) and VND844 via sales of Treasury bills in October this year, the Vietcombank Securities Company (VCBS) said its latest macro-economic report.

The monetary authority net injected VND2.369 trillion in September. The net withdrawal in the past two months represented 86% of total net injection in August to support liquidity of several banks following a series of bankers’ scandals.

Also in October, the central bank resumed selling T-bills after it stopped issuing the short-term debts in mid-June.

In the primary market, Treasury and government-backed bonds totaled VND14.298 trillion, up 39% on month. The State Treasury also sold VND7.65 trillion worth of T-bills, up more than 4-fold m-o-m.

VCBS expects yields on short-term bonds to go down in the last two month of this year on forecast that the CPI will rise at about 1% per month.

Source


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