Viet Nam
Market Watch
| Close of November 24, 2022 |
Change From | |||
|---|---|---|---|---|
| Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
| 2 Year | 4.745 | 0.0 | 0.0 | ▲ 414.0 |
| 5 Year | 4.797 | ▲ 0.9 | ▲ 0.9 | ▲ 393.8 |
| 10 Year | 4.906 | ▲ 1.3 | ▲ 2.0 | ▲ 280.8 |
|
* Government bond yield changes are expressed in basis points. |
||||
| Currencies | Latest Rate | Previous Day | Previous Week | YTD |
| VND per USD | 24,837.000 | ▼ 0.0 | ▼ 0.1 | ▼ 8.8 |
| VND per JPY | 179.277 | ▼ 0.8 | ▼ 1.3 | ▲ 9.6 |
|
* Exchange rate changes are expressed as a percentage change. |
||||
| Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
| 1D VNIBOR | 5.500 | ▲ 35.0 | ▲ 62.5 | ▲ 428.3 |
| 3M VNIBOR | 7.500 | ▲ 57.5 | ▼ 57.5 | ▲ 546.7 |
|
* Interest rate changes are expressed in basis point change. |
||||
Policy Rates
| Change From | ||||
|---|---|---|---|---|
| Policy Rates | Latest Rate (25-Oct-2022) |
Previous Rate (23-Sep-2022) |
YTD Rate |
|
| Refinancing Rate | 6.000 | ▲ 100.0 | ▲ 200.0 | |
|
* Policy rate changes are expressed in basis point change. |
||||
Sovereign Ratings
| Agency | Rating | Outlook | Date | |
|---|---|---|---|---|
| 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
- Expert offers solutions for corporate bond market
- VN’s stock market sees volatility amid world’s less positive outlook
- Bad debts situation getting worse
- Credit growth high amid hikes in loan/deposit ratio
- Securities companies adjust business results amid market downturn
Read full index for News and Commentary
BOND ISSUANCES
- Size of LCY Bond Market
- Size of LCY Bond Market in % of GDP
- Monthly Bonds Outstanding in USD
- FCY Bonds Outstanding
- Breakdown of LCY Bond Market Issuance
- G3 Currency Bond Issuance
- Government Securities Maturity Profile - LCY
- Corporate Securities Maturity Profile - LCY
- Investor Profile - Government Bonds
- Foreign Holdings in LCY Government Bonds
- Trading Volume
- Bonds Turnover Ratio
- Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
- Yield Volatility - 10yr LCY Bonds
- Bid-Ask Spreads (Survey data)
- Government Bond Market Structural Issues
- Corporate Bond Market Structural Issues
- Consolidated Sustainable Bonds Issuance
- Consolidated Sustainable Bonds Outstanding
- Sustainable Bonds List
ASEAN+3 Bond Market Guide 2018: Viet Nam
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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Market Summary
Yield Movements
Between
31 August and 14 October, Viet Nam’s local currency (LCY) government bond
yields climbed across the curve, resulting in the yield curve shifting upward. Viet Nam posted the largest upticks in both the 10-year and
2-year tenors among all emerging East Asian markets during the review period.
Higher bond yields were largely driven by the surprise 100 basis points rate
hike by the State Bank of Vietnam on 23 September. Furthermore, contributing to
the yield gains in Viet Nam was its strong economic performance thus far in
2022.
Size and Composition
At the end of September, Viet Nam’s LCY bond market reached a size
of VND2,323.5 trillion (USD97.4 billion) on marginal contraction of 0.2%
quarter-on-quarter (q-o-q) and slower growth of 21.1% year-on-year in the third quarter (Q3) of 2022. The
LCY government bond market of Viet Nam contracted 2.0% q-o-q to a size of
VND1,604.9 trillion at the end of September. Much of the decline can be
attributed to central bank bills, whose outstanding bond stock fell
significantly by 70.3% q-o-q in Q3 2022. Growth in the corporate bond segment
moderated to 4.1% q-o-q in Q3 2022 to a total size of VND718.6 trillion. In Q3
2022, bond issuance activities from the corporate segment slowed due to the
implementation of tighter regulations for the issuance and trading of private
placement issues.
Policy, Institutional and Regulatory Developments
In September, the Government of Viet Nam promulgated Decree No.
65/2022/ND-CP (Decree 65) to amend the existing regulations on the offering and
trading of privately issued bonds. Decree 65 aims to enhance transparency and
sustainability in the bond market by tightening disclosure requirements and
imposing more stringent conditions on bonds’ private placements. It was developed
to protect investors in several key areas, such as limiting the purpose of bond
proceeds, implementing new requirements on the issuer’s credit rating, and
mandating additional disclosures by the issuers. Decree 65 also launches the
centralized bond exchange system for bond registration and trading, which is
expected to be operational by June 2023.