Economic news review December 24

The central exchange rate decreased by 7 VND, the VN-Index decreased slightly by 2.40 points, or in 2024, the state budget revenue will be more than 1.7 million billion VND... are some notable economic information on December 24.

Economic news review

Domestic news

Foreign exchange market, session 24/12, State Bank listed the central exchange rate at 24,308 VND/USD, down 07 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 25,435 VND/USD, down 17 VND compared to the session on December 23.

The dollar-dong exchange rate on the free market increased by 20 VND for buying and 40 VND for selling, trading at 25,800 VND/USD and 25,900 VND/USD.

Interbank money market, December 24, the average interbank VND interest rate increased by 0.01 - 0.10 percentage points for all terms of 1 month or less compared to the first session of the week; specifically: overnight 4.48%; 1 week 4.70%; 2 weeks 5.05 and 1 month 5.18%. The average interbank USD interest rate increased by 0.01 - 0.02 percentage points for overnight and 2-week terms while remaining unchanged for 1-week term and decreasing by 0.01 percentage point for 1-month term, trading at: overnight 4.44%; 1 week 4.50%; 2 weeks 4.59%, 1 month 4.61%.

Government bond yields in the secondary market remained unchanged at 3-year and 7-year terms while decreasing at 5-year terms and increasing at the remaining terms, closing at: 3-year 2.01%; 5-year 2.30%; 7-year 2.52%; 10-year 2.97%; 15-year 3.12%.

In open market operations, on the mortgage channel, the State Bank bid 15,000 billion VND, 14-day term, interest rate at 4.0%. There were 14,999.99 billion VND won bids; there were 999.93 billion VND matured. The State Bank bid 7-day SBV bills, interest rate bidding. There were 3,650 billion VND won bids with interest rate at 4.0%. There were 1,150 billion VND matured bills.

Thus, the State Bank of Vietnam pumped a net VND11,500.06 billion into the market through the open market channel yesterday. There were VND46,999.99 billion circulating on the mortgage channel, and VND84,753 billion in treasury bills circulating on the market.

The stock market, despite its negative performance in the middle of the session, recovered to near the reference level yesterday. At the end of the session, VN-Index decreased slightly by 2.40 points (-0.19%) to 1,260.36 points; HNX-Index lost 0.15 points (-0.07%) to 228.36 points; UPCoM-Index increased by 0.30 points (+0.32%) to 94.02 points. Market liquidity improved with a trading value of nearly VND 17,700 billion. Foreign investors net sold nearly VND 62 billion on all three exchanges.

According to the General Department of Taxation, in 2024, the state budget revenue will be over 1.7 million billion VND, the highest ever. Of which, domestic revenue will reach 1.44 million billion VND, with 60/63 localities exceeding the revenue estimate. In the 2021-2024 period, the total state budget revenue is estimated at 7.2 million billion VND, reaching 86.55% of the target for the 2021-2025 period of 8.3 million billion VND. At this rate, the total budget revenue in the 5-year period could reach 9 million billion VND, exceeding the target assigned by the National Assembly by about 700,000 billion VND.

International News

Reuters reported on December 24 that the Chinese government is discussing a special bond issuance worth 3 trillion yuan (US$410 billion) in 2025 to allocate to strategic goals such as consumer subsidies, upgrading state-owned enterprise equipment and technology investment. In addition, a significant portion of this financial resource will be used to increase capital for large state-owned banks. The size of this 3 trillion package far exceeds the 1 trillion that the Chinese government issued in 2024.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-2412-159302-159302.html