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Viet Nam raises 1.88 trillion dong in its first auction in 2012

Update: January, 13/2012 - 16:39

Ha Noi: The Ha Noi Stock Exchange made its first auction of the year by successfully selling government bonds worth 1.88 trillion dong ( $89.4 million) on Thursday.

The Vietnam's State Treasury sold one trillion dong of three-year bonds at a yearly interest rate of 12.10 percent and 880 billion dong through five-year bond at a yield of 12.15 percent.

17 organisations participated at the auction. The volume of bidding was 2.5 time higher than the call for bid. The number of foreign bidders in the three and five- year bonds made up 15 percent and 11.56 percent respectively. According to the Ha Noi Stock Exchange, this is a good sign for Viet Nam's bond market in the year 2012.

Governor of the State bank of Viet Nam, Nguyen Van Binh on Thursday said Vietnamese dong had increased its attractiveness because of the SBV's monetary policies.-- VNS

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