August 13, 2020
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||0.544||▼ 3.0||▼ 5.3||▼ 114.6|
|5 Year||1.759||▲ 3.7||▲ 0.7||▼ 26.6|
|10 Year||2.945||▲ 2.6||▲ 3.4||▼ 47.1|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|VND per USD||23,176.000||▼ 0.0||▼ 0.0||▼ 0.0|
|VND per JPY||216.740||▼ 0.0||▲ 1.2||▼ 1.6|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D VNIBOR||0.150||▲ 1.2||▼ 1.7||▼ 137.5|
|3M VNIBOR||1.467||▲ 4.7||▼ 5.8||▼ 255.8|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|Refinancing Rate||4.500||▼ 50.0||▼ 150.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
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.
Published by the ASEAN+3 Bond Market Forum (ABMF) in collaboration with the ADB as its secretariat, the two-volume guide contains detailed information on bond market infrastructure; transaction flows, including information on matching, settlement cycles, and numbering; and the regulatory framework and market practices in the Hong Kong, China.
|* Download previous issues PDF|
Viet Nam's local currency (LCY) bond yield curve shifted downward for short-term tenors and upward for medium- to long-term tenors between 28 February and 15 May. The yield decline at the shorter-end of the curve can be traced to the interest rate cuts of the State Bank of Vietnam, while the increase in yields at the medium- to longer-end reflects investors seeking higher returns at the same time the government needs to secure money to finance its socioeconomic development programs to support the economy.
Viet Nam's LCY bonds outstanding totaled VND1,360.7 trillion at the end of March. The market expanded 9.5% quarter-on-quarter (q-o-q) in the first quarter (Q1) of 2020 after recording a decline in the fourth quarter of 2019. The rebound was entirely driven by the government segment which grew 10.5% q-o-q while outstanding bonds in the corporate sector remained subdued which declined 1.7% q-o-q. Government bonds comprised the bulk of the bond market with a 92.6% share at the end of the quarter versus a 7.4% share for corporate bonds.
On 7 May, the Ministry of Finance issued Circular No. 37, which reduced 20 out of 22 securities fees by 50%. The measure aims to help businesses negatively impacted by the COVID-19 pandemic in line with the government's effort to keep the economy afloat. The reduction will be effective from 7 May to 31 December.
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