Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
by lexie Tue Nov 29, 2011 3:37 pm
November 29, 2011
Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
Vietnam’s two-year government bonds snapped a three-day rally on speculation banks have less funds to invest in the debt as the end of the year approaches. The dong was steady.
The Southeast Asian nation will celebrate the Lunar New Year, also known as the Tet festival, from Jan. 23 to Jan. 27.
“Commercial lenders are not interested in bonds as they need to ensure liquidity ahead of the Lunar New Year, when residents usually withdraw deposits,” said Tran Thi Ngoc Thanh, deputy manager of the investment-banking division at Sacombank Securities Joint-Stock Co. in Ho Chi Minh City.
Yields on the two-year debt rose five basis points, or 0.05 percentage point, to 12.49 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong was unchanged at 21,009 per dollar as of 4:26 p.m. in Hanoi, 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. (Bloomberg)
http://www.vietfinancenews.com/2011/11/vietnam-bonds-drop-as-bank-demand-falls.html
Vietnam Bonds Drop as Bank Demand Falls Before Lunar New Year
Vietnam’s two-year government bonds snapped a three-day rally on speculation banks have less funds to invest in the debt as the end of the year approaches. The dong was steady.
The Southeast Asian nation will celebrate the Lunar New Year, also known as the Tet festival, from Jan. 23 to Jan. 27.
“Commercial lenders are not interested in bonds as they need to ensure liquidity ahead of the Lunar New Year, when residents usually withdraw deposits,” said Tran Thi Ngoc Thanh, deputy manager of the investment-banking division at Sacombank Securities Joint-Stock Co. in Ho Chi Minh City.
Yields on the two-year debt rose five basis points, or 0.05 percentage point, to 12.49 percent, according to a daily fixing from banks compiled by Bloomberg.
The dong was unchanged at 21,009 per dollar as of 4:26 p.m. in Hanoi, 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. (Bloomberg)
http://www.vietfinancenews.com/2011/11/vietnam-bonds-drop-as-bank-demand-falls.html
*****************
"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 Sovereign Bonds Drop as Bank Demand Wanes; Dong Weakens
» VIETNAM Vietnam Bonds Rise on Bank-Demand Speculation; Dong Steady
» Vietnam- Five-Year Bonds Climb After Rates Drop at Debt Auction
» Vietnam’s 5-Year Bonds Drop Before Inflation Report; Dong Gains
» Vietnam- Bonds Advance on Speculation Bank Demand Increasing
» VIETNAM Vietnam Bonds Rise on Bank-Demand Speculation; Dong Steady
» Vietnam- Five-Year Bonds Climb After Rates Drop at Debt Auction
» Vietnam’s 5-Year Bonds Drop Before Inflation Report; Dong Gains
» Vietnam- Bonds Advance on Speculation Bank Demand Increasing
Permissions in this forum:
You can reply to topics in this forum
» Angela Hitler gathers lieutenants in Germany to mourn loss of Fourth Reich
» 10 years of the new notes came out!
» The Association of Brokerage Companies: Changing the dollar exchange rate contributed to raising the value of Iraqi shares
» Iran: Exports to Iraq amounted to $9.5 billion
» Al-Hakim calls for choosing the next prime minister within specific criteria
» What does Iraq look in a post-Sadr era?
» Sadrist leading figure to the Coordination Framework: the fire you made will burn everyone
» Iraqi parliament swears in new members to replace Sadrists
» USD/IQD closes slightly lower in Baghdad
» Norway offers US$ 7.5 million to Iraq
» Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq
» Iraq’s exposure to US securities was up to about $28 billion in April
» The Central Bank: We have taken effective measures to protect the banking sector and combat money laundering
» Al Qirtas Islamic Bank - The first use of modern systems from DN SeriesTM ATMs in Iraq
» The Central Bank of Iraq: We launched 17 trillion dinars of development initiatives
» Central: The Letter of Guarantee platform issued more than 30,000 letters, worth 9.3 trillion
» The Governor of the Central Bank discusses obstacles to the work of Islamic banks with the International Rating Agency
» The Central Bank of Iraq decides to sell the dollar to pilgrims at the official exchange rate
» The central bank is moving at a steady pace to support and revitalize the economy
» The central electronic platform for letters of guarantee enhances confidence in banking transactions
» Who's on First?
» Frank26 says - From black list removal to high credit ratings for Iraq. This is how you get a new exchange rate
» Becky McGee/Oootah - "Wanted: Attorney and/or Lawyer!" 3/10/19
» Meta 1 Coin Has Crack Team Of Lawyers? Why Is Dave Schmidt Still Rotting In Jail?
» California pot shops prepare for their first day of legal recreational marijuana sales TODAY
» One Crazy Guy
» CBI sells $1+ billion in forex for second week in a row
» Iraq and the World Bank hold a workshop to develop public debt management
» Combating financial crimes enhances confidence in the banking sector
» Forex-US dollar notches in Baghdad
» USD/IQD closes lower in Baghdad
» What Happens when Cancer is treated with Cannabis? VIDEO
» VIDEO: Viral Hydroxychloroquine Doctor Demands Joe Biden Apologize After Media Finally Acknowledges HCQ Works
» USD/IQD closes slightly higher in Baghdad
» CBI sold +3$ billion in forex in May
» Finance agrees with the World Bank to help Iraq by activating the General Authority for Taxes
» Central Bank Governor: The Iraqi banking sector is witnessing development and openness to the outside
» The Central Bank prevents Visa and Master card holders from giving them to any party
» Al-Kazemi’s advisor identifies the reasons for the failure to approve the final accounts since 2012