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Close of April 17, 2024 |
Change From | |||
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Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 1.846 | ▲ 0.4 | ▲ 5.4 | ▲ 28.9 |
5 Year | 2.123 | ▲ 1.4 | ▲ 12.8 | ▲ 59.0 |
10 Year | 2.822 | ▼ 0.1 | ▲ 11.4 | ▲ 58.5 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
VND per USD | 25,369.000 | ▼ 0.4 | ▼ 1.7 | ▼ 4.5 |
VND per JPY | 164.318 | ▼ 0.6 | ▼ 0.9 | ▲ 4.5 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
1D VNIBOR | 4.912 | ▲ 11.2 | ▲ 133.7 | ▲ 195.2 |
3M VNIBOR | 4.650 | 0.0 | ▲ 85.0 | ▲ 161.7 |
* Interest rate changes are expressed in basis point change. |
Change From | ||||
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Policy Rates | Latest Rate (16-Jun-2023) |
Previous Rate (23-May-2023) |
YTD Rate |
|
Refinancing Rate | 4.500 | ▼ 50.0 | 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+ | stable | 2023-12-08 | |
S&P | BB+ | stable | 2023-06-15 | |
NEWS HIGHLIGHTS
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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The local currency (LCY) government bond yields in Viet Nam declined for most tenors between 1 December 2023 and 29 February 2024 amid slow economic growth. In 2023, the central bank reduced its refinancing rate by a cumulative total of 150 basis points from April to June 2023, and subsequently held rates steady since July 2023 to support economic growth. Viet Nam’s economy grew 5.1% year-on-year in 2023, lower than the government’s target growth of 6.5%.
Viet Nam’s LCY bond market totaled VND2,655.6 trillion at the end of December 2023, a contraction of 0.4% quarter-on-quarter (q-o-q) due to a large volume of maturities of central bank securities. Growth in outstanding LCY government bonds moderated to 2.0% q-o-q in the fourth quarter of 2023 on reduced issuance, while LCY corporate bond stock increased 6.8% q-o-q amid improved investor sentiment following reforms in the corporate bond market. LCY bond issuance in Viet Nam grew 81.6% q-o-q to VND400.3 trillion on increased issuance from corporates and the central bank.
The Government of Viet Nam plans to borrow VND676.1 trillion in 2024 to cover the budget deficit, service existing debts, and provide additional loans. The proposed borrowing comprises bond sales, official development assistance, and foreign preferential loans. Under this borrowing plan, Viet Nam’s public debt is projected to be around 40% of gross domestic product at the end of 2024, while government and foreign debt will be around 38% and 39%, respectively.