Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Vietnam Bonds Drop After Central Bank Lowers Rates; Dong Steady   DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Vietnam Bonds Drop After Central Bank Lowers Rates; Dong Steady

Post new topic   Reply to topic

Go down

Vietnam Bonds Drop After Central Bank Lowers Rates; Dong Steady   Empty Vietnam Bonds Drop After Central Bank Lowers Rates; Dong Steady

Post by lexie Mon Mar 12, 2012 10:13 am

March 12, 2012

Vietnam Bonds Drop After Central Bank Lowers Rates; Dong Steady

Vietnam’s bonds dropped after the central bank said it will cut benchmark interest rates from tomorrow to support economic growth. The dong was unchanged.

The State Bank of Vietnam will lower the refinancing rate to 14 percent from 15 percent, according to a statement on its website today. It’s the first reduction since 2009. The central bank will also cut its discount rate to 12 percent from 13 percent and the dong deposit cap for terms of one-month and more to 13 percent from 14 percent, it said.

The yield on the government’s two-year notes climbed seven basis points, or 0.07 percentage point, to 11.54 percent, according to a daily fixing from banks compiled by Bloomberg.

“Traders had already anticipated this move and priced the rate reduction into bond yields,” said Tran Kieu Hung, a Hanoi- based bond trader at Bank for Investment & Development of Vietnam.

The dong traded at 20,830 per dollar as of 4:30 p.m. in Hanoi, according to data compiled by Bloomberg. The central bank set the daily reference rate at 20,828, unchanged since Dec. 26, its website showed. The currency is allowed to trade up to 1 percent on either side of the rate. (Bloomberg)


http://www.vietfinancenews.com/2012/03/vietnam-bonds-drop-after-central-bank.html#more

*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

View user profile

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You can reply to topics in this forum