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The State Bank of Vietnam unexpectedly resumed issuing central bank bills worth 8 trillion VND (US$350.9 million) this week, with a one-week term at 1.3% per year. The last issue had been on March 3.
The aim is to boost foreign exchange reserves because commercial banks bought dollars from the public but did not sell them to the central bank.
Higher interbank rates make holding dollars more expensive and may force banks to sell dollars to the central bank, tightening dollar supply. The direct effect on feed commodity prices is minimal.
en.vietnamplus.vnVietnam+ (VietnamPlusJul 20, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
