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Close of March 30, 2023 |
Change From | |||
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Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 3.132 | ▼ 13.6 | ▼ 27.7 | ▼ 151.8 |
5 Year | 3.116 | ▼ 16.4 | ▼ 30.0 | ▼ 158.4 |
10 Year | 3.531 | ▼ 0.9 | ▼ 15.4 | ▼ 126.4 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
VND per USD | 23,480.000 | ▲ 0.1 | ▲ 0.3 | ▲ 0.6 |
VND per JPY | 176.940 | ▼ 0.1 | ▲ 1.6 | ▲ 1.8 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
1D VNIBOR | 0.733 | ▲ 6.6 | ▼ 100.0 | ▼ 381.7 |
3M VNIBOR | 5.850 | ▼ 15.0 | ▼ 51.0 | ▼ 235.0 |
* Interest rate changes are expressed in basis point change. |
Change From | ||||
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Policy Rates | Latest Rate (14-Mar-2023) |
Previous Rate (25-Oct-2022) |
YTD Rate |
|
Refinancing Rate | 6.000 | 0.0 | 0.0 | |
* Policy rate changes are expressed in basis point change. |
Agency | Rating | Outlook | Date | |
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Regional Rating Institutions | ||||
R&I | BB | stable | 2019-05-17 | |
RAM | BB3 | positive | 2019-08-27 | |
Non-Regional Rating Institutions | ||||
Fitch | BB | positive | 2022-10-28 | |
S&P | BB+ | stable | 2022-05-26 | |
NEWS HIGHLIGHTS
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BOND ISSUANCES
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region''''s bond markets. It provides information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction (including settlement systems), and other relevant information. The ASEAN+3 Bond Market Guide 2018 Viet Nam is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Viet Nam. View Report
* Download previous issues PDF | ||||
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In the fourth quarter (Q4) of 2022, growth in the local currency (LCY) bond market of Viet Nam accelerated to 6.5% quarter-on-quarter (q-o-q), with the outstanding bond stock reaching VND2,498.5 trillion (USD105.7 billion). The higher growth was mainly driven by government bonds amid increased issuance of Treasury bonds and government-guaranteed bonds during the quarter. In contrast, the corporate bond stock contracted due to continued bond repurchases by issuers and a decline in issuance volume on tighter corporate bond regulations.
Viet Nam’s corporate bond issuance in Q4 2022 substantially dropped 92.3% q-o-q to VND3,844.7 trillion. Most corporate bonds in Viet Nam are issued via private placement and the enforcement of Decree 65 in September dragged down overall issuance during the quarter.
On 5 December, the State Bank of Vietnam raised the local banking system’s credit target by 1.5–2.0 percentage points from the previous 14%, following the central bank’s policy rate increases that had caused a credit crunch in the domestic real estate and financial markets. Banks with good liquidity and low interest rate offerings are eligible for the credit cap increase. The new policy aims to balance appropriate capital to provide credit and focus capital on economic growth drivers such as production and business sectors.