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| Economic news review |
Domestic news
In the foreign exchange market on March 18, the State Bank listed the central exchange rate at 24,793 VND/USD, down 1 VND compared to the first session of the week.
The USD buying price was listed by the State Bank of Vietnam at 23,604 VND/USD, 50 VND higher than the floor rate; while the USD selling price was listed at 25,982 VND/USD, 50 VND lower than the ceiling rate.
On the interbank market, the dollar-dong exchange rate closed at 25,527 VND/USD, down slightly by 3 VND compared to the session on March 17.
The dollar-dong exchange rate on the free market increased by 20 VND for buying and 40 VND for selling, trading at 25,760 VND/USD and 25,840 VND/USD.
On March 18, the interbank money market, the average interbank VND interest rate decreased by 0.03 - 0.08 percentage points for all terms from 1 month or less compared to the previous session, specifically: overnight 4.16%; 1 week 4.29%; 2 weeks 4.40% and 1 month 4.51%. The average interbank USD interest rate increased by 0.01 - 0.04 percentage points for all terms, trading at: overnight 4.30%; 1 week 4.38%; 2 weeks 4.43%, 1 month 4.49%.
Government bond yields in the secondary market remained flat for the 3-year term while increasing for the 15-year term and decreasing for the remaining terms, closing at: 3-year 2.16%; 5-year 2.31%; 7-year 2.65%; 10-year 2.96%; 15-year 3.15%.
Yesterday, in the open market operations, on the mortgage channel, the State Bank offered VND20,000 billion for a 7-day term, VND10,000 billion for a 35-day term and VND5,000 billion for a 91-day term, with interest rates all at 4.0%. There were VND13,641.61 billion in winning bids for a 7-day term, VND1,015.78 billion in winning bids for a 35-day term, no winning bid volume for a 91-day term; VND14,969.58 billion in maturing. The State Bank did not offer SBV bills; there were no maturing bids.
Thus, the State Bank of Vietnam withdrew a net VND312.19 billion from the market through open market operations yesterday. There were VND74,464.25 billion circulating on the mortgage channel; there were no treasury bills circulating on the market.
Yesterday's stock market session, the banking and real estate groups were under selling pressure, VN-Index decreased in the afternoon session. At the end of the trading session, VN-Index decreased by 5.29 points (-0.40%) to 1,330.97 points; HNX-Index increased by 0.26 points (+0.11%) to 247.03 points; UPCoM-Index decreased by 0.14 points (-0.14%) to 100.29 points. Market liquidity decreased slightly with a trading value of over VND 21,100 billion. Foreign investors net sold more than VND 434 billion on all 3 floors.
According to the 2025 plan, the Ministry of Finance plans to divest capital from 131 state-owned enterprises, earning VND10,040 billion. Previously, in the 2021-2024 period, it divested capital from 15 state-owned enterprises with a divestment capital value of VND405.2 billion, earning VND656.9 billion. In 2024, only 5 F1 enterprises will divest capital, with a total state capital value of VND145 billion, earning VND157 billion. Corporations, general companies, and state-owned enterprises have also divested capital from 3 enterprises with a divestment capital value of VND40.9 billion and earning VND182 billion.
International News
The phone call between US President Donald Trump and Russian President Vladimir Putin achieved positive results. Early this morning, Vietnam time, the White House announced that the two Presidents agreed that "the Russia-Ukraine conflict needs to end with a lasting peace. The process towards peace will begin with an agreement to stop attacks on energy and infrastructure facilities." In addition, the White House also said that the two sides will immediately hold negotiations on the prospect of a ceasefire in the Black Sea, as well as a comprehensive ceasefire plan and a lasting peace agreement.
The ceasefire agreement is the first significant de-escalation since the conflict between Russia and Ukraine broke out on February 24, 2022. However, this is only part of the goal that the US and Ukraine set after talks on October 11, that Kiev is ready to accept a comprehensive ceasefire along the entire front line for 30 days, effective as soon as Moscow agrees.
The US recorded some positive economic indicators. First, in the construction sector, the number of building permits in the US reached 1.46 million in February, unchanged from the previous month's 1.47 million, slightly higher than the forecast of 1.45 million. In addition, the number of housing starts in the country reached 1.50 million in February, a sharp increase compared to January's 1.35 million, and exceeding the expected 1.38 million.
Next, industrial production in the US increased by about 0.7% compared to the previous month in February, following a 0.3% increase in January and significantly exceeding the forecast of a 0.2% increase. Compared to the same period in 2024, industrial production last month increased by about 1.4%.
The ZE survey said the economic confidence index in Germany reached 51.6 points in March, up sharply from 26.0 points in the previous month and surpassing the forecast of 48.1 points. This is the highest confidence level recorded in Germany since February 2022.
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