The newly released report of Bao Viet Securities Joint Stock Company (BVSC) shows that last week, the OMO market was less active when the State Bank of Vietnam (SBV) had no new injection while there was not any capital matured through this channel.
Besides, through T-bill channel, the State Bank issued 43 trillion dong new T-bills while the amount of capital matured via this channel reached 33.6 trillion dong. As such, last week, the State Bank net withdrew 9.4 trillion dong through T-bill channel.
As such, the State Bank net withdrew 9.4 trillion dong from the market.
BVSC said the move to withdraw money immediately after Tet shows the cautiousness of the regulator in regulating money supply to limit the risk for inflation, especially in the context that a large amount of dong has been pumped to the market to buy foreign currency over the last period.
Meanwhile, the average interbank interest rate last week continued to fall for overnight, one-week and two-week terms with a decrease of 0.29 percent-0.49 percent.
Specifically, the average interest rate for overnight term fell 0.29 percent to 0.91 percent/annum. The average interest rate for one-week term decreased 0.39 percent to 1.17 percent/annum; the average interest rate for two-week term went down 0.49 percent to 1.44 percent/annum.
This is considered normal and has been forecasted when idle money after the Lunar New Year holiday tends to go back to the banking system.
