Analyst Pin-board Banking sector – Update on the money market
- The USD/VND exchange rate continued to appreciate due to the USD strength in the international markets and local USD shortage caused by robust demand. The exchange rate is expected to continue to fluctuate this week as a result of the steady demand of FDI enterprises and customers in the petroleum and steel industries.
- Despite the SBV’s effort in monitoring VND and supporting the USD liquidity via open market operations, USD funding in the past week was still lacking, thereby hindering the recovery potential of the swap rate gap.
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