HCMC—The State Bank of Vietnam (SBV) has altered its liquidity management strategy for April, transitioning from a focus on net withdrawals in March to a combination of liquidity injections and withdrawals.
On April 4, the central bank conducted a modest drainage of VND200 billion through open market operations, marking the lowest volume since mid-March.
One participant secured 28-day Treasury bills with an annual coupon rate of 2.4%. The previous day, the SBV withdrew VND300 billion at a lower coupon of 1.9% for the same term.
In addition to withdrawals, the SBV injected over VND2.5 trillion into the market by issuing 7-day bills at a coupon of 4% per year. This is the SBV’s second liquidity injection since the start of April.
Interbank interest rates on April 4 declined 0.16% to 0.84% compared to the previous day.
The overnight rate currently stands at 3.58% annually, while rates for one week, two weeks, one month, three months, six months, and one year are 3.92%, 4.05%, 4.08%, 3.98%, 4.32%, and 5.2% respectively.
