Economic news review November 21

The State Bank withdrew a net VND14,049.91 billion from the market through the open market channel; VN-Index increased by 11.79 points (+0.97%) to 1,228.33 points; Gasoline and oil prices (except mazut) decreased by VND60-110 per liter, kg... are some of the economic information of interest on November 21.

Domestic news:

Foreign exchange market, session 21/11, SBV listed the central exchange rate at 24,290 VND/USD, up 05 VND compared to the previous session. The spot buying rate and spot selling rate were kept listed at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the closing exchange rate was 25,420 VND/USD, down 2 VND compared to the session on November 20. The exchange rate on the free market increased by 80 VND for buying and 50 VND for selling, trading at 25,750 VND/USD and 25,850 VND/USD.

Interbank money market, November 21, the average interbank VND interest rate remained unchanged in short terms while increasing by 0.02 - 0.04 percentage points in 2-week and 1-month terms compared to the previous session; specifically: overnight 4.18%; 1 week 4.40%; 2 weeks 4.67 and 1 month 4.82%. The average interbank USD interest rate increased by 0.01 - 0.02 percentage points in overnight and 1-month terms while remaining unchanged in the remaining terms, trading at: overnight 4.61%; 1 week 4.66%; 2 weeks 4.71%, 1 month 4.77%. Government bond yields in the secondary market increased slightly in most terms except for the 3-year term, remaining unchanged; closing at: 3 years 1.88%; 5 years 1.95%; 7 years 2.27%; 10 years 2.76%; 15 years 2.96%.

In the open market operations, on the mortgage channel, the State Bank bid 5,000 billion VND, with a term of 07 days, the interest rate was 4.0%. There were 5,000 billion VND won bids. There were 19,999.91 billion VND maturing on the mortgage channel. The State Bank bid for SBV bills with a term of 28 days, bidding for interest rates. There were 1,700 billion VND won bids, the interest rate decreased to 3.97%. There were 2,650 billion VND of bills maturing. Thus, the State Bank withdrew a net 14,049.91 billion VND from the market through the open market channel yesterday. There were 62,999.94 billion VND circulating on the mortgage channel, there were 20,050 billion VND of bills circulating on the market.

The stock market continued to show bright signs when it increased yesterday. At the end of the trading session, VN-Index increased by 11.79 points (+0.97%) to 1,228.33 points; HNX-Index increased by 0.47 points (+0.21%) to 221.76 points; UPCoM-Index increased by 0.41 points (+0.45%) to 91.50 points. Market liquidity decreased with a trading value of nearly 13,000 billion VND. Foreign investors continued to net sell more than 886 billion VND on all 3 floors.

Gasoline and oil prices (except fuel oil) have decreased by 60-110 VND per liter and kilogram since yesterday, November 21. After the adjustment by the Ministry of Industry and Trade - Ministry of Finance, the price of RON 95-III gasoline (the popular type on the market) decreased by 80 VND per liter, down to 20,520 VND per liter; E5 RON 92 gasoline is at 19,340 VND per liter, down 110 VND per liter. Meanwhile, oil products (except fuel oil) also decreased by 60-70 VND. Compared to 7 days ago, diesel oil decreased by 70 VND per liter, down to 18,500 VND; kerosene decreased by 60 VND per liter to 18,920 VND per liter, while fuel oil increased by 10 VND per kilogram to 16,010 VND per kilogram.

International News

The US Department of Labor announced that the number of initial unemployment benefits applications in the country was 213 thousand in the week ending November 15, down slightly from 219 thousand in the previous week and contrary to the forecast of an increase to 220 thousand. The average number of applications in the most recent 4 weeks was 217.75 thousand, down 3.75 thousand compared to the average of the previous 4 weeks. Next, in the real estate sector, sales of old houses in the US reached 3.96 million units in October, up from 3.83 million units in the previous month, almost matching the forecast of 3.95 million units. The average price of old houses in this country was about 407.2 thousand USD/unit, up 4.0% y/y.

The European Union's statistical office said the consumer confidence index in the Eurozone was -14 points in November, lower than the forecast of a flat -13 points. Thus, the consumer market in this area has been immersed in a pessimistic mood since June 2018 until now.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-2111-158030-158030.html