Economic news review April 3

Economic news review

Domestic news

In the foreign exchange market session on April 3, the State Bank listed the central exchange rate at 24,854 VND/USD, a slight increase of 3 VND compared to the previous session.

The USD buying price is listed at 23,662 VND/USD, 50 VND higher than the floor rate; while the USD selling price is listed at 26,046 VND/USD, 50 VND lower than the ceiling rate.

On the interbank market, the dollar-dong exchange rate closed at 25,785 VND/USD, a sharp increase of 155 VND compared to the session on April 2.

The dollar-dong exchange rate on the free market increased by 30 VND for buying and 60 VND for selling, trading at 25,870 VND/USD and 25,950 VND/USD.

On April 3, the average interbank VND interest rate decreased by 0.04 percentage points for overnight terms while increasing by 0.02 - 0.06 percentage points for remaining terms of 1 month or less compared to the previous session, specifically: overnight 4.00%; 1 week 4.32%; 2 weeks 4.54% and 1 month 4.62%.

The average interbank USD interest rate increased by 0.01 - 0.04 percentage points at all terms, trading at: overnight 4.30%; 1 week 4.37%; 2 weeks 4.43%, 1 month 4.50%.

Government bond yields on the secondary market increased sharply across all maturities, closing at: 3-year 2.17%; 5-year 2.37%; 7-year 2.73%; 10-year 3.04%; 15-year 3.21%.

Yesterday, in the open market operations, on the mortgage channel, the State Bank offered VND10,000 billion for a 7-day term, VND10,000 billion for a 14-day term, VND5,000 billion for a 35-day term and VND3,000 billion for a 91-day term, with interest rates all at 4.0%. There were VND937.74 billion in winning bids for a 7-day term and VND803.82 billion for a 14-day term, with no winning bids for the remaining terms; VND3,386.14 billion matured. The State Bank did not offer SBV bills.

Thus, the State Bank of Vietnam withdrew a net VND1,644.58 billion from the market through open market operations yesterday. There were VND93,593.11 billion circulating on the mortgage channel; there were no treasury bills circulating on the market.

The Vietnamese stock market yesterday witnessed the most "panic" trading session ever. At the end of the session, VN-Index dropped sharply by 87.99 points (-6.68%) to 1,229.84 points; HNX-Index dropped by 17.18 points (-7.21%) to 220.95 points; UPCoM-Index lost 8.06 points (-8.17%) to 90.58 points. Market liquidity was very high with a trading value of over VND43,400 billion. Foreign investors net sold nearly VND2,700 billion on all three exchanges.

Gasoline and oil prices increased by 120-490 VND per liter from April 3 following adjustments by the Ministry of Industry and Trade and the Ministry of Finance. Specifically, the price of RON 95-III gasoline (a popular type on the market) increased by 490 VND per liter to 20,910 VND per liter; E5 RON 92 gasoline increased by 340 VND per liter, to 20,370 VND per liter; diesel increased by 260 VND per liter to 18,470 VND per liter; kerosene and fuel oil increased by 210 VND per liter and 120 VND per kg, respectively, to 18,730 VND per liter and 17,020 VND per kg.

International News

According to the Institute for Supply Management (ISM), the US services PMI index reached 50.8% in March, down from 53.5% in the previous month and lower than the forecast of 53.0%. This is the lowest service PMI level recorded in the US since July 2024.

Next, the US Department of Labor announced that the number of initial unemployment claims for the week ending March 30 was 219 thousand, lower than the forecast of 225 thousand compared to the previous week. The average number of claims in the last 4 weeks was 223 thousand, down 1.25 thousand compared to the previous 4 weeks.

Today, the market awaits a detailed report on the US labor market, to be released at 19:30 Vietnam time.

S&P Global said its UK services PMI came in at 52.5 in March, down slightly from a preliminary reading of 53.2. In contrast, the Eurozone services PMI came in at 51.0 in March, up slightly from a preliminary reading of 50.4.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-34-162245-162245.html