Economic news review January 4

The central exchange rate increased by 29 VND, the VN-Index increased by 6.55 points or the price of gasoline decreased... are some notable economic news on January 4.

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Economic news review

Domestic news

In the foreign exchange market on January 4, the State Bank listed the central exchange rate at 23,915 VND/USD, an increase of 29 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 25,060 VND/USD, 50 VND lower than the ceiling exchange rate.

On the interbank market, the dollar-dong exchange rate closed at 24,365 VND/USD, down 20 VND compared to the session on January 3.

The dollar-dong exchange rate on the free market remained unchanged in both buying and selling directions, trading at 24,700 VND/USD and 24,800 VND/USD.

On January 4, the average interbank VND interest rate continued to decrease by 0.23-0.44 percentage points in all terms of 1 month or less compared to the previous session, specifically: overnight 0.25%; 1 week 0.45%; 2 weeks 0.78%; and 1 month 1.88%.

The average interbank USD interest rate decreased by 0.01-0.04 percentage points at all terms, trading at: overnight 5.05%; 1 week 5.16%; 2 weeks 5.26%; 1 month 5.36%.

Government bond yields in the secondary market remained flat for the 3-year term while increasing for the 5-year and 7-year terms, and decreasing for the remaining terms, closing at: 3-year 1.54%; 5-year 1.55%; 7-year 1.95%; 10-year 2.29%; 15-year 2.49%.

Yesterday, in the open market operations, on the mortgage channel, the State Bank of Vietnam offered VND1,000 billion for a 7-day term, with the interest rate remaining at 4.0%. There was no winning bid volume, with VND4,551.36 billion circulating on this channel. The State Bank of Vietnam did not offer SBV bills and there was no volume of bills circulating on the market.

The stock market continued to be positive with the breakthrough of banking stocks, however, the growth momentum of the indices decreased towards the end of the session. At the end of the session, VN-Index increased by 6.55 points (+0.57%) to 1,150.72 points; HNX-Index added 0.92 points (+0.40%) to 232.56 points; UPCoM-Index decreased slightly by 0.07 points (-0.08%) to 87.73 points. Market liquidity increased sharply compared to the previous session with a trading value of nearly VND 28,000 billion. Foreign investors continued to net sell nearly VND 22 billion on all 3 exchanges.

In the first operating period of 2024 on January 4, the Ministry of Industry and Trade - Ministry of Finance decided to adjust the prices of all petroleum products down. Specifically, RON92 gasoline decreased by 180 VND/liter, the selling price is not higher than 21,006 VND/liter; RON95 gasoline decreased by 232 VND/liter, at 21,916 VND/liter; diesel oil decreased by 420 VND/liter, at 19,368 VND/liter; kerosene decreased by 500 VND/liter, at 19,957 VND/liter; fuel oil decreased by 190 VND/kg, at 15,495 VND/kg.

International News

The ADP report said the US created 164 thousand new non-farm jobs in December, higher than the 101 thousand in November and also surpassing the forecast of 120 thousand. The number of initial jobless claims in the US in the week ending December 30, 2023 was 202 thousand, lower than the 220 thousand in the previous week and also lower than the forecast of 217 thousand. The average number of claims in the last 4 weeks was 207.75 thousand, down 4.75 thousand from the average of the previous 4 weeks.

Today, the world continues to wait for full data on the US labor market, announced by the US Department of Labor at 8:20 p.m. Vietnam time.

The German Federal Statistical Office Destatis said the country's headline CPI rose 0.1% in December after falling 0.4% the previous month, in line with forecasts for a 0.2% increase. Compared to the same period in 2022, the CPI rose 3.7%. Thus, the German CPI increased 5.9% for the whole year, mainly due to the increase in energy, food and housing prices.

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