Economic news review October 23

The central exchange rate increased by 10 VND, the VN-Index increased slightly by 1.01 points, or the State Bank of Vietnam withdrew a net 10,785.35 billion VND from the market... are some notable economic news on October 23.

Economic news review

Domestic news

In the foreign exchange market on October 23, the State Bank listed the central exchange rate at 24,250 VND/USD, an increase of 10 VND compared to the previous session.

The USD buying price was kept unchanged at 23,400 VND/USD by the State Bank of Vietnam, while the USD selling price was listed at 25,412 VND/USD, 50 VND lower than the ceiling exchange rate.

On the interbank market, the dollar-dong exchange rate closed at 25,435 VND/USD, continuing to increase by 19 VND compared to the session on October 22.

The dollar-dong exchange rate on the free market increased by 60 VND in both buying and selling directions, trading at 25,520 VND/USD and 25,620 VND/USD.

On October 23, the average interbank VND interest rate decreased by 0.01 - 0.17 percentage points for short terms while increasing by 0.03 percentage points for 1-month terms compared to the previous session; specifically: overnight 3.83%; 1 week 3.99%; 2 weeks 4.14% and 1 month 4.26%.

The average interbank USD interest rate decreased by 0.01 percentage point at overnight term while increasing by 0.01 percentage point at 1-week term and remaining unchanged at the remaining terms, trading at: overnight 4.83%; 1 week 4.89%; 2 weeks 4.92%, 1 month 4.94%.

Government bond yields in the secondary market remained unchanged at 3-year and 5-year terms while increasing at the remaining terms; closing at: 3-year 1.88%; 5-year 1.90%; 7-year 2.19%; 10-year 2.70%; 15-year 2.89%.

In yesterday's open market operations, on the mortgage channel, the State Bank of Vietnam offered VND3,000 billion for a 7-day term, with an interest rate of 4.0%. VND2,014.65 billion was won. The State Bank of Vietnam offered SBV bills for two terms: VND3,300 billion was won for a 14-day term, with an interest rate of 3.70%; VND9,500 billion was won for a 28-day term, with an interest rate of 4.0%.

Thus, the State Bank of Vietnam withdrew a net VND10,785.35 billion from the market through the open market channel in yesterday's session. There were VND5,014.65 billion circulating on the mortgage channel, and VND59,200 billion in treasury bills circulating on the market.

On the bond market on October 23, the State Treasury successfully bid VND7,565 billion/VND10,500 billion of government bonds called for bid, with a winning rate of 72%. Of which, the 5-year term mobilized the entire VND1,500 billion called for bid, the 10-year term mobilized VND5,620 billion/VND6,000 billion called for bid and the 30-year term mobilized VND445 billion/VND1,000 billion called for bid. The 15-year term called for VND2,000 billion, however, there was no winning volume. The winning interest rates for all terms remained unchanged compared to the previous auction, specifically the 5-year term was 1.89%, the 10-year term was 2.66% and the 30-year term was 3.10%.

The stock market fluctuated yesterday, thanks to the buying pressure at the end of the session, the indices maintained their green color. At the end of the session, VN-Index increased slightly by 1.01 points (+0.08%) to 1,270.90 points; HNX-Index added 1.0 point (+0.44%) to 226.50 points; UPCoM-Index inched up by 0.39 points (+0.43%) to 92.12 points. Market liquidity decreased sharply with a trading value of nearly VND14,900 billion. Foreign investors net sold slightly less than VND4 billion on all three exchanges.

According to the Government's report, based on the estimated implementation of borrowing, repayment of public debt and foreign debt of the country in 2024, it is expected that the debt indicators by the end of 2024 will be within the ceiling limit and the safety warning threshold decided by the National Assembly . Data from the report shows that the estimated public debt/GDP in 2024 is 36-37%; Government debt/GDP is 33-34%; the estimated foreign debt/GDP of the country is 32-33%; the direct debt repayment obligation of the Government/state budget revenue is estimated at 21-22%.

International News

The National Association of Realtors (NAR) said that sales of existing homes in the US fell slightly to 3.84 million units in September, contrary to the forecast of 3.88 million units. This is also the lowest month of sales since January 2024. Compared to the same period in 2023, sales in September decreased by 3.5%. However, the average price of existing homes in the country last month was about 404.5 thousand USD/unit, up 3.0% compared to the same period.

The European Union's statistical office (Eurostat) released its consumer confidence index for the Eurozone at -13 points this month, unchanged from September and contrary to forecasts of a slight increase to -12 points. Although this confidence level is the highest since March 2022, it is still much more negative than before the Covid-19 pandemic, and the market has not improved for 3 months now.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-2310-157062-157062.html