Economic news review December 17

The central exchange rate decreased by 2 VND, the VN-Index decreased slightly by 2.07 points, or in 15 years of operation of the government bond market, the Government has mobilized 3.37 million billion VND... are some notable economic information on December 17.

Economic news review

Domestic news

Foreign exchange market, session 17/12, State Bank listed the central exchange rate at 24,270 VND/USD, slightly down 02 VND compared to the first session of the 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 25,440 VND/USD, a sharp increase of 43 VND compared to the session on December 16.

The dollar-dong exchange rate on the free market decreased by 25 VND in both buying and selling directions, trading at 25,625 VND/USD and 25,725 VND/USD.

Interbank money market, on December 17, the average interbank VND interest rate decreased by 0.17 - 0.56 percentage points for short terms while increasing by 0.01 percentage point for 1-month terms compared to the first session of the week; specifically: overnight 3.33%; 1 week 3.90%; 2 weeks 4.30 and 1 month 5.07%. The average interbank USD interest rate remained unchanged for overnight and 1-week terms while decreasing by 0.01 percentage point for 2-week terms and increasing by 0.01 percentage point for 1-month terms, trading at: overnight 4.61%; 1 week 4.66%; 2 weeks 4.70%, 1 month 4.76%.

Government bond yields in the secondary market decreased in most maturities except for the 3-year maturities, closing at: 3-year 1.91%; 5-year 2.14%; 7-year 2.38%; 10-year 2.85%; 15-year 3.02%.

In open market operations, on the mortgage channel, the State Bank bid 1,000 billion VND, 7-day term, interest rate at 4.0%. There were 999.93 billion VND won bids; 4,999.99 billion VND matured. The State Bank bid SBV bills at 14-day and 28-day terms, bidding interest rates. There were 9,850 billion VND won bids at 14-day term and 1,200 billion VND won bids at 28-day term, both with interest rate at 4.0%. There were 1,500 billion VND matured bills.

Thus, the State Bank of Vietnam withdrew a net VND13,550.06 billion from the market through the open market channel in yesterday's session. There were VND42,999.86 billion circulating on the mortgage channel, and VND70,835 billion in treasury bills circulating on the market.

In the stock market, cautious sentiment weighed heavily, with major indices falling below the reference level. At the end of the session, VN-Index fell slightly by 2.07 points (-0.16%) to 1,261.72 points; HNX-Index fell by 0.15 points (-0.07%) to 226.89 points; UPCoM-Index edged up by 0.13 points (+0.14%) to 92.77 points. Market liquidity has not improved with a trading value of about VND13,000 billion. Foreign investors net sold more than VND890 billion on all three exchanges.

According to the Ministry of Finance, in the 15 years of operation of the government bond market, the Government has mobilized VND 3.37 trillion through the issuance of government bonds, accounting for more than 80% of the annual capital mobilization volume for the state budget. The size of the government bond market is currently at 23% of GDP, an 18-fold increase compared to when government bonds were put into trading on the Hanoi Stock Exchange. Through the bond market, 02 policy banks have mobilized VND 476,601 billion, and local governments have mobilized VND 39,893 billion.

International News

The U.S. Census Bureau said total retail sales in the country increased 0.7% month-over-month in November after increasing 0.5% in October, beating the forecast of 0.6%. However, core retail sales last month increased only 0.2% month-over-month, equal to the previous month's increase and below the forecast of a 0.4% increase. Compared to the same period in 2023, total retail sales increased 3.8%, faster than the 2.9% increase in October, also the strongest increase since December 2023.

The UK's Office for National Statistics said the number of people applying for unemployment benefits in the country rose slightly by 0.3 thousand in November after falling by 10.9 thousand in October (revised from a preliminary figure that showed an increase of 26.7 thousand in October). The result was much lower than the Reuters forecast of an increase of 28.2 thousand.

Next, the average income of the British people increased by 5.2% in the 3 months of 09-10-11, higher than the 4.4% increase in the 3 months of 08-09-10, and also higher than the forecast of 4.6%. Finally, the unemployment rate in the UK last month was recorded at 4.3%, unchanged from the statistical results of October and also in line with the forecast.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-1712-159018-159018.html