
The State Bank of Vietnam plans to inject nearly 48,800 billion dong into the banking system through a 182-day USD/VND swap, capped at 2 billion USD with a value date of November 9, 2026. Participation is limited to institutions with medium- and long-term foreign loans or international bonds maturing in 12 months or more.
The move comes with a request to cut deposit and lending rates.
Longer-tenor dong liquidity supports Vietnamese banks' funding and feed demand for imports, including feed ingredients, while reducing pressure on the dong. The effect on grain and feed commodity prices is minor.
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