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Monday, July 22, 2024

SBV raises VND50 trillion through short-term bond sales

By Nguyen Tan

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HCMC – The State Bank of Vietnam (SBV), the central bank, has successfully raised VND50,000 billion from the banking system through short-term G-bond auctions held from September 21 to 26.

In the auction conducted on September 26, the SBV awarded 28-day G-bonds worth VND20 trillion to nine out of 11 bidders at a coupon rate of 0.58%. This rate was higher than the previous auction on September 25, where it stood at 0.49%.

During three consecutive auction sessions on September 21, 22, and 25, the SBV offered 28-day G-bonds worth VND30 trillion and managed to withdraw the same amount from the market.

The SBV’s decision to issue G-bonds is aimed at adjusting down liquidity in the banking system in the short term, according to SSI Securities Corporation. In contrast, Maybank (MSVN) views it as a move to ease pressure on exchange rates in the near future.

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