SBV adds $1.75 billion to the market in October

Wednesday, Oct 17, 2018 14:16

More than VND16.8 trillion was pumped into the market by the State bank last week. — Photo

The State Bank of Viet Nam (SBV) injected more than VND41 trillion (US$1.75 billion) into the monetary market in the first half of October to boost the liquidity of the banking system.

According to the latest report from the Bao Viet Securities Company (BVSC), a net value of more than VND16.8 trillion was continuously pumped into the market last week. In the previous week, the central bank added VND24.4 trillion.

The move proves that the liquidity of the banking system is not as abundant as it used to be, BVSC analysts said.

In the inter-bank market, the interest rates for overnight loans slid by 0.1 percentage points in the past week to 2.84 per cent per year while the rate for two-week loans remained unchanged at 3.31 per cent.

In contrast, the one-week loan rate rose 0.2 percentage points to 3.1 per cent.

BVSC also reported the State Treasury offered a total of VND5.6 trillion worth of G-bonds with different maturities last week including five-year, 10-year and 15-year bonds.

As expected, bond interest rates surged 0.28 per cent over the previous week. The auction raised only VND1.1 trillion from 10-year bonds, with interest rates inching up by 0.05 percentage points to 4.85 per cent. — VNS

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