Saturday, February 24 2018

VietNamNews

Central bank injects nearly $573mn to support liquidity

Update: February, 08/2018 - 17:35
The central bank made a net cash injection of VNĐ13 trillion (US$572.9 million) into the economy in the past week. - VNA Photo
Viet Nam News

HÀ NỘI — State Bank of Việt Nam (SBV) made a net cash injection of VNĐ13 trillion (US$572.9 million) into the economy in the past week to support the liquidity of commercial banks.

According to Saigon Securities Incorporate (SSI), the cash was pumped through the bill issue channel to meet the rising capital demands as Tết (Vietnamese Lunar New Year) approaches.

The past week also saw the inter-bank rates inch up by 0.1 - 0.22 percentage points, pushing the overnight rate to 1.57 per cent and the one-week rate to 1.65 per cent. However, the one-month rate inched down by 0.05 percentage points to 3.4 per cent.

Despite the hike, inter-bank rates were still low compared to the same period in previous years. For example, ahead of Tết last year, the inter-bank rates surpassed 2 per cent for overnight and one-week loans. — VNS

 

 

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