Economic news review October 24

The central exchange rate decreased by 10 VND, the VN-Index decreased by 13.49 points, or gasoline prices mainly decreased after the adjustment session... those are some notable economic news on October 24.

Economic news review

Domestic news

In the foreign exchange market on October 24, the State Bank listed the central exchange rate at 24,260 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 25,450 VND/USD.

On the interbank market, the dollar-dong exchange rate closed at 25,400 VND/USD, down 35 VND compared to the session on October 23.

The dollar-dong exchange rate on the free market increased by 180 VND in both buying and selling directions, trading at 25,700 VND/USD and 25,800 VND/USD.

On October 24, the interbank money market, the average interbank VND interest rate decreased by 0.05 percentage points for the overnight term, while increasing by 0.03 - 0.05 percentage points for the remaining terms of 1 month or less compared to the previous session; specifically: overnight 3.78%; 1 week 4.02%; 2 weeks 4.19 and 1 month 4.30%. The average interbank USD interest rate increased by 0.01 - 0.02 percentage points for most terms except for the flat rate for the 1 week term, trading at: overnight 4.84%; 1 week 4.89%; 2 weeks 4.93%, 1 month 4.96%.

Government bond yields in the secondary market increased for 5-year and 7-year terms while remaining unchanged for the remaining terms; closing at: 3-year 1.88%; 5-year 1.91%; 7-year 2.20%; 10-year 2.70%; 15-year 2.89%.

In yesterday's open market operation, on the mortgage channel, the State Bank of Vietnam bid 3,000 billion VND, 7-day term, interest rate at 4.0%. There were 3,000 billion VND won bids. The State Bank of Vietnam bid 2 terms: 600 billion VND won bids for 14-day term, interest rate decreased to 3.60%; 2,650 billion VND won bids for 28-day term, interest rate at 4.0%.

Thus, the State Bank of Vietnam net withdrew VND250 billion from the market through the open market channel in yesterday's session. There were VND8,014.65 billion circulating on the mortgage channel, and VND62,450 billion in treasury bills circulating on the market.

Yesterday's stock market session, all indices decreased. At the end of the session, VN-Index dropped sharply by 13.49 points (-1.06%) to 1,257.41 points; HNX-Index lost 1.81 points (-0.80%) to 224.69 points; UPCoM-Index fell 0.06 points (-0.07%) to 92.06 points. Market liquidity increased slightly with a transaction value of over 16,900 billion VND. Foreign investors net sold nearly 230 billion VND on all 3 floors.

Gasoline prices mainly decreased after the adjustment session on October 24 by the Ministry of Industry and Trade - Ministry of Finance. Specifically, the price of RON 95-III gasoline decreased by 70 VND, down to 20,890 VND per liter; E5 RON 92 gasoline was at 19,690 VND per liter, down 40 VND; diesel oil decreased by 270 VND/liter to 18,050 VND/liter; kerosene decreased by 50 VND/liter, down to 18,570 VND/liter; fuel oil increased by 130 VND/kg, up to 16,220 VND/kg. Since the beginning of the year, gasoline prices have increased 21 times, decreased 21 times; oil prices increased 18 times, decreased 24 times.

International News

The US recorded some notable economic indicators. First, the S&P Global survey said the US manufacturing PMI was 47.8 in October, up from 47.3 in September and above the forecast of 47.5. The services PMI this month was 55.8, up slightly from 55.2 in the previous month and against the forecast of a slight decline to 55.0.

Next, in the labor market, the number of initial unemployment benefits in the US in the week ending October 18 was 227 thousand, down from 242 thousand the previous week and lower than the forecast of 243 thousand. The average number of applications in the most recent 4 weeks was 238.5 thousand, up 2 thousand compared to the average of the previous 4 weeks.

Finally, in the real estate market, sales of old houses in September reached 738 thousand units, higher than the 709 thousand units in August, and surpassing the expected 719 thousand units.

According to S&P Global, the UK manufacturing and services PMI indexes were 50.3 and 51.8 points respectively in October, down from 51.5 and 52.4 points in September, and both lower than the forecast of 51.5 and 52.3 points. Experts said that the UK economy has been showing a weakening growth momentum since September.

S&P Global reported that the Eurozone manufacturing PMI rose to 45.9 in October, up from 45.0 in September and above expectations of 45.1. The services PMI, on the other hand, fell to 51.2 in October from 51.4 in the previous month, against expectations of a rise to 51.5.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-2410-157087-157087.html