Vietnam Sovereign Bonds Drop as Bank Demand Wanes; Dong Weakens
Vietnam Sovereign Bonds Drop as Bank Demand Wanes; Dong Weakens
by lexie Mon Nov 14, 2011 6:00 pm
November 14, 2011
Vietnam Sovereign Bonds Drop as Bank Demand Wanes; Dong Weakens
Vietnam’s bonds fell on speculation banks are using funds to lend in the money market rather than buy government debt. The dong weakened.
Interbank lending rates more than doubled to as high as 36.5 percent last week from a maximum 16.2 percent the week before, said Nguyen Duy Phong, an analyst at ACB Securities Co. in Ho Chi Minh City.
“Since interbank lending rates rose significantly and are higher than bond yields, commercial banks have been encouraged to lend in the interbank market to get higher profits,” ACB analysts led by Phong wrote in a research note obtained today.
Yields on five-year government debt rose two basis points, or 0.02 percentage point, to 12.49 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong fell 0.1 percent to 21,032 per dollar, according to data compiled by Bloomberg. The central bank set the reference rate at 20,803, unchanged since Oct. 28, its website showed. The currency is allowed to trade up to 1 percent on either side of the official rate.
In the so-called black market, the dong traded as low as 21,380 per dollar at gold shops in Hanoi today, according to a telephone information service, known as 1080, run by state-owned Vietnam Posts & Telecommunications. (Bloomberg)
http://www.vietfinancenews.com/2011/11/vietnam-sovereign-bonds-drop-as-bank.html#more
Vietnam Sovereign Bonds Drop as Bank Demand Wanes; Dong Weakens
Vietnam’s bonds fell on speculation banks are using funds to lend in the money market rather than buy government debt. The dong weakened.
Interbank lending rates more than doubled to as high as 36.5 percent last week from a maximum 16.2 percent the week before, said Nguyen Duy Phong, an analyst at ACB Securities Co. in Ho Chi Minh City.
“Since interbank lending rates rose significantly and are higher than bond yields, commercial banks have been encouraged to lend in the interbank market to get higher profits,” ACB analysts led by Phong wrote in a research note obtained today.
Yields on five-year government debt rose two basis points, or 0.02 percentage point, to 12.49 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong fell 0.1 percent to 21,032 per dollar, according to data compiled by Bloomberg. The central bank set the reference rate at 20,803, unchanged since Oct. 28, its website showed. The currency is allowed to trade up to 1 percent on either side of the official rate.
In the so-called black market, the dong traded as low as 21,380 per dollar at gold shops in Hanoi today, according to a telephone information service, known as 1080, run by state-owned Vietnam Posts & Telecommunications. (Bloomberg)
http://www.vietfinancenews.com/2011/11/vietnam-sovereign-bonds-drop-as-bank.html#more
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24 
Similar topics» VIETNAM Vietnam Bonds Rise on Bank-Demand Speculation; Dong Steady
» Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
» Vietnam’s Bonds Fall as Bank Demand Declines; Dong Advances
» Vietnam Bonds Decline on Speculation Bank Demand Low; Dong Gains
» Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
» Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
» Vietnam’s Bonds Fall as Bank Demand Declines; Dong Advances
» Vietnam Bonds Decline on Speculation Bank Demand Low; Dong Gains
» Vietnam Bonds Rise on Bank-Demand Speculation; Dong Advances
Permissions in this forum:
You can reply to topics in this forum
» Al-Rasheed Bank announces the removal of its name from the list of international sanctions of the Charter of the United Nations
» The United States allocated 140$ million to support Iraq
» USD/IQD exchange rates climb in Baghdad
» NOPEC Law
» Turkish lira weakens to 15.16 against dollar
» Here's my guess
» Tony and Twitter
» Hamza Al-Jawahiri to / NINA /: The survival of quotas and consensus will not achieve any sustainable development for the national economy / expanded
» The appearance of Muhammad Salih to / Nina /: This is how the surplus oil revenues are disposed of
» USD closes slightly higher in Baghdad on Sunday
» The Central Bank of Iraq 75 years in the face of economic challenges
» (Budget Reserve) may see the light next Wednesday
» Al-Kazemi's advisor puts forward a proposal to double growth rates
» VOTE -- Who Is The Worst Dinarland INTEL Provider Today?
» “Dedicated to Service” on Instagram
» Rehabilitation of the Church of the Virgin Mary in the province of Basra within the Tamkeen project for community initiatives
» Can We Do Without The Commentary!
» 95% of Iraqi revenues still come from oil
» CBI foreign currency sales hike in April
» Where does the excess oil price differentials go?
» Introducing myself...
» Amer Al-Jawahiri to / Nina /: Improving economic activities in the local market is more stable than deleting confusing zeros
» Iraq's oil generates more than 10 billion dollars in one month
» USD/IQD exchange rates inched up in Baghdad
» Becky McGee/Oootah - "Wanted: Attorney and/or Lawyer!" 3/10/19
» Exchange rate game in Iraq: how speculators grossed millions of dollars in 48 hours scheme
» Holly: "Remember we are not in the know of all that goes on behind the scenes" (More Guessing Games...Just What Everybody Needs! LOL) 7/13/21
» RV INTEL BY TEXAS SNAKE, BOB LOCK AND ED OCALA (Three Blind Mice? LOL) 12/8/21
» Technical Adviser to the Prime Minister: The positive effects of changing the exchange rate will be felt more after 3 years
» An economist stresses the need to invest surplus money from oil revenues in profitable projects
» CBI sells +212$ million in the forex auction on Monday
» USD/IQD exchange rates drop in Baghdad
» Outdated laws are a major economic challenge for the next government, Allawi says
» (Initial agreement) to reduce the amount of the emergency support law to 23 trillion dinars
» Planning announces a rise in the monthly and annual inflation rate in Iraq
» Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad
» Mazhar Muhammad Salih: The Central Bank's balance is three times more than the government's external debt
» KM controlled G7 regimes are mathematically doomed despite increased repression
» Guru TexasSnake: "late today or early tomorrow we may get our emails from Wells Fargo and 800 numbers for a start on Tuesday" 2/10/20