The State Bank of Vietnam (SBV), the country's central bank net withdrew
32 billion dong through open market operations (OMO) last week.
The State Bank of Vietnam (SBV)
net withdrew 32 billion dong through open market operations (OMO) last week
after sluggish performance of injecting 19 billion dong and withdrawing 51
billion dong, the news provider Gafin reported, citing Bao Viet Securities
Company (BVSC)’s data.
Of note, the central bank
continuously offered 5 trillion dong each day but trading was done only on
August 8 with winning volume of 19 billion dong or 0.38 percent of the offer.
Bao Viet Securities Company
(BVSC) attributed low fund demand on OMO to the fact that banks’ liquidity was
abundant as credit growth had not seen any significant improvement.
Besides, inter-bank interest
rates are lower than OMO interest rates and they are on the decline, making it
less attractive to bid on OMO.
In the week ending August 3, the
central bank net injected 32 billion dong and trading was also sluggish.
StoxPlus
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