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Thursday, June 20, 2024

Central bank pumps VND360,000 billion into market

By Nguyen Tan

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HCMC – Over VND360,000 billion earlier withdrawn by the State Bank of Vietnam (SBV), the central bank, through its issues of Treasury bills has been injected into the banking system.

The final lot of bills issued by the central bank recently, totaling VND5,000 billion, reached maturity on December 6, and the central bank has refrained from launching new issues. Thus, a total amount of VND360,345 billion raised through bill issues have been injected backed into the banking system.

The repayments for the bills that fell due have further boosted liquidity in the banking system and led to interbank interest rates edging down over the past few weeks.

It is worth noting that the SBV issued bills via auction on September 21 of this year at a time when the banking system was experiencing abundant liquidity and low interest rates on the interbank market. The move was aimed at regulating liquidity and easing pressure on exchange rates in the short term.

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