State bank mobilises 409 million USD from T-bill issuance

The State Bank of Vietnam (SBV) continues to issue over 409 million USD worth of treasury bills (T-bills). (Photo: VNA)

Hanoi (VNA) – The State Bank of Vietnam (SBV) on September 25 continued to issue 10 trillion VND (over 409 million USD) worth of treasury bills (T-bills) with a term of 28 days through the interest rate auction mechanism.

Four out of 13 participants won the bid with the interest rate of 0.49%, lower than the previous sessions on September 22 (0.5%) and September 21 (0.69%).

In the recent three transaction sessions, the SBV issued nearly 30 trillion VND worth of T-bills. This was the first time in six months the central bank used this method to mobilise money in the context that interbank overnight interest rate fell to the lowest level in two months.

Experts from the Saigon Securities Inc. (SSI) said that the SBV’s move aims to adjust short-term liquidity, and it does not mean that the bank is reversing its monetary policy./.

VNA