Economic news review December 16

The central exchange rate increased by 8 VND, the VN-Index increased slightly by 1.22 points or from the beginning of the year to December 13, credit in the whole economy increased by about 12.5% compared to the end of 2023... are some notable economic information on December 16.

Review of economic information from December 9-13 Continuing to strengthen solutions to manage interest rates and credit

Economic news review

Domestic news

Foreign exchange market, session 16/12, State Bank listed the central exchange rate at 24,272 VND/USD, up 08 VND compared to the session at the end of last week.

The buying and selling prices of USD were kept unchanged by the State Bank of Vietnam at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the dollar-dong exchange rate closed at 25,397 VND/USD, down 6 VND compared to the session on December 13.

The dollar-dong exchange rate on the free market increased sharply by 100 VND in both buying and selling directions, trading at 25,650 VND/USD and 25,750 VND/USD.

Interbank money market, on December 16, the average interbank VND interest rate decreased by 0.06 - 0.19 percentage points for all terms from 1 month or less compared to the session at the end of last week; specifically: overnight 3.89%; 1 week 4.26%; 2 weeks 4.47 and 1 month 5.06%. The average interbank USD interest rate remained unchanged for all terms, trading at: overnight 4.61%; 1 week 4.66%; 2 weeks 4.71%, 1 month 4.75%.

Government bond yields in the secondary market increased across all maturities, closing at: 3-year 1.91%; 5-year 2.14%; 7-year 2.38%; 10-year 2.86%; 15-year 3.03%.

In the open market operations, on the mortgage channel, the State Bank bid 1,000 billion VND, 7-day term, interest rate at 4.0%. All of the above volume was won; 4,999.97 billion VND matured. The State Bank bid for SBV bills in 2 terms of 14 days and 28 days, bidding for interest rates. There were 9,300 billion VND won for the 14-day term and 2,880 billion VND won for the 28-day term, both with interest rate at 4.0%. There were 1,900 billion VND matured bills.

Thus, the State Bank of Vietnam withdrew a net VND14,279.97 billion from the market through the open market channel in yesterday's session. There were VND46,999.92 billion circulating on the mortgage channel, and VND61,285 billion in treasury bills circulating on the market.

In the stock market, the uncertain sentiment remained, the indices continued to fluctuate within a narrow range. At the end of the session, VN-Index increased slightly by 1.22 points (+0.10%) to 1,263.79 points; HNX-Index increased by 0.03 points (+0.02%) to 227.04 points; UPCoM-Index added 0.10 points (+0.11%) to 92.64 points. Market liquidity was low with a transaction value of about VND 13,700 billion. Foreign investors net sold nearly VND 205 billion on all 3 floors.

The State Bank of Vietnam said that from the beginning of the year to December 13, credit in the entire economy increased by about 12.5% compared to the end of 2023. As of December 2024, credit has focused on production and priority sectors such as social housing, construction, agriculture, aquaculture, high technology, etc. According to interest rate reports of commercial banks, up to now, the lending interest rate level has continued to decrease by about 0.96%/year compared to the end of 2023.

International News

The S&P Global survey said the US services PMI index was at 58.5 points in December, up from 56.1 points in November and also higher than the 55.7 points in October. The manufacturing PMI this month only reached 48.3 points, down slightly from 49.7 points in the previous month and also lower than the forecast of 49.4 points.

The Eurozone manufacturing PMI came in at 45.2 in December, flat on November and in line with expectations of 45.3. The services PMI came in at 51.4 in December, compared with expectations of a flat reading of 49.5 in November. In the UK, the manufacturing PMI came in at 47.3 in December, down slightly from 48.0 in November and beating expectations of a rise to 48.4. The UK services PMI rose to 51.4 from 50.8 in the previous month, beating expectations of 50.9.

China's industrial output rose 5.4% year-on-year in November, up from 5.3% in October and in line with expectations, the National Bureau of Statistics said. However, retail sales rose just 3.0% year-on-year last month, down from 4.8% in the previous month and against expectations of a 5.0% expansion.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-1612-158986-158986.html