By the close of trading on January 6th, the average interbank lending rates for the Vietnamese Dong (VND) saw a significant decline across all short-term maturities, from one month and below, compared to the start of the week. Notably, the overnight rate—which accounts for approximately 80–90% of transaction value—dropped by 1.30 percentage points to 5.70% per annum.
Similarly, the one-week rate decreased by 1.30 percentage points to 6.00% per annum, the two-week rate fell by 0.30 percentage points to 7.05% per annum, and the one-month rate dropped by 0.70 percentage points to 6.95% per annum.
For the US Dollar (USD), interbank lending rates edged slightly higher. The overnight rate increased by 0.01 percentage points to 3.67% per annum. Both the one-week and two-week rates rose by 0.01 percentage points, reaching 3.74% per annum and 3.77% per annum, respectively, while the one-month rate climbed by 0.02 percentage points to 3.83% per annum.
In the Open Market Operations (OMO) channel, during the January 6th session, the State Bank of Vietnam significantly reduced the auction scale compared to the previous session. Specifically, the State Bank auctioned 1,000 billion VND for a 7-day term, 3,000 billion VND for each of the 14-day and 91-day terms, and 6,000 billion VND for a 28-day term, all at a uniform interest rate of 4.5% per annum.
The total successful auction volume reached 10,481 billion VND, with no successful bids for the 7-day term, 2,129 billion VND for the 14-day term, 5,875 billion VND for the 28-day term, and 2,478 billion VND for the 91-day term. On the same day, 20,287 billion VND matured. The State Bank did not auction treasury bills.
Thus, during this trading session, the State Bank net absorbed approximately 9,806 billion VND from the market. The total outstanding volume in the collateral channel decreased to 391,977 billion VND.
In the foreign exchange market, during the January 6th session, the State Bank of Vietnam continued to slightly lower the central exchange rate. The central rate was set at 25,122 VND/USD, a decrease of 2 VND compared to the start of the week.
At the Trading Desk, the spot buying rate was listed at 23,916 VND/USD, 50 VND higher than the floor rate, while the spot selling rate was listed at 26,328 VND/USD, 50 VND lower than the ceiling rate.
In the interbank market, the USD/VND exchange rate closed at 26,279 VND/USD, a slight increase of 1 VND compared to the January 5th session. In the free market, the USD rate increased by 50 VND in both buying and selling directions, trading around 26,950 VND/USD and 27,000 VND/USD.
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