Economic news review November 27

The central exchange rate remained unchanged, the VN-Index decreased slightly by 0.16 points, and the State Bank issued Official Letter No. 9774/NHNN-CSTT on stabilizing deposit interest rates and striving to reduce lending interest rates... are some notable economic news on November 27.

Economic news review

Domestic news

In the foreign exchange market session on November 27, the State Bank kept the central exchange rate unchanged at 24,295 VND/USD.

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

On the interbank market, the dollar-dong exchange rate closed at 25,383 VND/USD, down 32 VND compared to the session on November 26.

The dollar-dong exchange rate on the free market decreased by 20 VND for buying and 30 VND for selling, trading at 25,710 VND/USD and 25,810 VND/USD.

On November 27, the average interbank VND interest rate decreased sharply by 0.25 - 1.05 percentage points in all terms of 1 month or less compared to the previous session; specifically: overnight 4.40%; 1 week 4.58%; 2 weeks 4.83% and 1 month 5.18%.

The average interbank USD interest rate increased by 0.01 percentage point at overnight term while decreasing by 0.01 percentage point at 1-week term, remaining unchanged at 2-week and 1-month terms, trading at: overnight 4.61%; 1-week 4.66%; 2-week 4.71%, 1-month 4.76%.

Government bond yields in the secondary market remained unchanged at 3-year and 7-year terms while slightly increasing at the remaining terms; closing at: 3-year 1.88%; 5-year 1.97%; 7-year 2.28%; 10-year 2.76%; 15-year 2.96%.

Yesterday's open market operations, on the mortgage channel, the State Bank of Vietnam bid 10,000 billion VND, 7-day term, interest rate at 4.0%. There were 9,999.94 billion VND won bids. There were 8,000 billion VND maturing on this channel. The State Bank of Vietnam bid 28-day SBV bills, interest rate auction. There were 250 billion VND won bids, interest rate kept at 4.0%. There were 200 billion VND maturing bills.

Thus, the State Bank of Vietnam pumped a net VND1,949.94 billion into the market through the open market channel yesterday. There were VND79,999.85 billion circulating on the mortgage channel, and VND17,500 billion in treasury bills circulating on the market.

On the bond market on November 27, the State Treasury successfully bid for VND4,000 billion/VND10,500 billion of government bonds, with a winning rate of 38%. Of which, the 10-year term mobilized VND3,000 billion/VND5,500 billion of bonds; the 30-year term mobilized VND1,000 billion/VND1,500 billion of bonds. The 5-year and 15-year terms called for VND2,500 billion and VND1,000 billion, respectively, but there was no winning volume in either term. The winning interest rate for the 10-year term was 2.68% (+0.02 percentage points compared to the previous auction) and for the 30-year term was 3.15% (+0.05 percentage points).

The stock market yesterday moved sideways, with indices trading around the reference level. At the end of the session, VN-Index fell slightly by 0.16 points (-0.01%) to 1,241.97 points; HNX-Index lost 0.61 points (-0.27%) to 223.09 points; UPCoM-Index fell 0.11 points (-0.11%) to 91.96 points. Market liquidity decreased compared to the previous session with a trading value of nearly VND12,200 billion. Foreign investors net bought nearly VND355 billion on all three exchanges.

On November 27, 2024, the State Bank of Vietnam issued Official Dispatch No. 9774/NHNN-CSTT on stabilizing deposit interest rates and striving to reduce lending interest rates. For credit institutions, the State Bank of Vietnam requires maintaining a stable and reasonable deposit interest rate level, consistent with the ability to balance capital, the ability to expand healthy credit and the capacity to manage risks, contributing to stabilizing the money market and the market interest rate level. Credit institutions continue to proactively announce average lending interest rates, the difference between average deposit and lending interest rates, lending interest rates for credit programs, credit packages and other types of lending interest rates (if any) on the credit institution's website...

International News

The United States recorded some notable economic indicators. First, the US Bureau of Economic Analysis (BEA) said that the country's GDP increased by 2.8% compared to the previous quarter in the third quarter, according to the second preliminary report, without adjusting the initial statistical results and matching the forecast.

Regarding inflation in the US, the core PCE price index and the total PCE both increased 0.3% month-on-month in October, the same as the previous month's increase and in line with forecasts. Compared to the same period in 2023, the core PCE and the total PCE increased 2.8% and 2.3%, respectively, in October, expanding from the 2.7% and 2.1% increases recorded in September.

Next, in the real estate market, the value of pending home sales in the US increased 2.0% month over month in October, following a 7.5% increase in the previous month and contrary to forecasts of a 2.1% decrease. Compared to the same period in 2023, the value of pending home sales last month increased 7.0%.

Finally, total durable goods orders in the US rose 0.2% month-over-month in October after falling 0.7% in September, missing the forecast of a 0.4% increase. Core durable goods orders rose 0.1% in October after rising 0.5% in September, matching the forecast of a 0.2% increase.

The Australian Bureau of Statistics (ABS) announced that the headline consumer price index (CPI) in the country increased by 2.1% year-on-year in October, unchanged from the increase recorded in September and contrary to the forecast for an expansion to 2.5%. However, Australia's core CPI increased by 3.5% year-on-year last month, higher than the 3.2% increase in September, continuing to stay above the Reserve Bank of Australia's (RBA) target of 2-3%.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-2711-158218-158218.html