Business

Central bank injects nearly 573mln USD to support liquidity

The State Bank of Vietnam (SBV) made a net cash injection of 13 trillion VND (572.9 million USD) into the economy in the past week to support the liquidity of commercial banks.
Central bank injects nearly 573mln USD to support liquidity ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) - The State Bank of Vietnam (SBV) made a net cashinjection of 13 trillion VND (572.9 million USD) into the economy in the pastweek to support the liquidity of commercial banks.

According to Saigon Securities Incorporate (SSI), the cash was pumped throughthe bill issue channel to meet the rising capital demands as Tet (VietnameseLunar New Year) approaches.

The past week also saw the inter-bank rates inch up by 0.1 - 0.22 percentagepoints, pushing the overnight rate to 1.57 percent and the one-week rate to1.65 percent. However, the one-month rate inched down by 0.05 percentage pointsto 3.4 percent.

Despite the hike, inter-bank rates were still low compared to the same periodin previous years. For example, ahead of Tet last year, theinter-bank rates surpassed 2 percent for overnight and one-week loans.-VNA
VNA
#State Bank of Vietnam #State Bank of Vietnam supports liquidity #liquidity of Vietnam commercial banks #Saigon Securities Incorporate #Vietnam inter-bank rates #Vietnam banking sector #Vietnam #Vietnam News Agency #vietnamplus
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