The central exchange rate decreased by 1 VND, the VN-Index increased by 12.47 points or in March 2024, the country's trade balance of goods had a surplus of 2.78 billion USD... are some notable economic news on April 9.
| Review of economic information week 1-5/4 Review of economic information on April 8 |
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| Economic news review |
Domestic news
In the foreign exchange market session on April 9, the State Bank listed the central exchange rate at 24,037 VND/USD, down 1 VND compared to the first session of the week.
The State Bank of Vietnam kept the USD buying price listed at 23,400 VND/USD, while the USD selling price was listed at 25,189 VND/USD, 50 VND lower than the ceiling exchange rate.
On the interbank market, the dollar-dong exchange rate closed at 24,958 VND/USD, down 5 VND compared to the session on April 8.
The dollar-dong exchange rate on the free market dropped sharply by 100 VND in both buying and selling directions, trading at 25,300 VND/USD and 25,420 VND/USD.
On April 9, the average interbank VND interest rate increased sharply by 0.14 - 0.96 percentage points in all terms of 1 month or less compared to the first session of the week, specifically: overnight 3.68%; 1 week 3.85%; 2 weeks 3.83% and 1 month 3.80%.
The average interbank USD offering rate decreased by 0.01 percentage point at overnight term while increasing by 0.01 percentage point at 1-week and 2-week terms, remaining unchanged at 1-month term; trading at: overnight 5.22%; 1-week 5.31%; 2-week 5.39%, 1-month 5.41%.
Government bond yields in the secondary market decreased in most maturities except for an increase in the 3-year term; closing at: 3-year 1.86%; 5-year 2.03%; 7-year 2.25%; 10-year 2.71%; 15-year 2.94%.
In the open market operations on the mortgage channel, the State Bank bid 5,000 billion VND with a term of 7 days, the interest rate remained at 4.0%. There was no winning bid volume, there was 5,952.27 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 3,850 billion VND of winning bills with the interest rate remained at 2.9%. There were 14,999.7 billion VND of maturing bills.
Thus, the State Bank of Vietnam pumped a net VND5,197.43 billion into the market yesterday, the volume of treasury bills circulating in the market decreased to VND149,849.3 billion, the volume circulating on the mortgage bond decreased to VND2,513.26 billion.
Yesterday's stock market session, the market indices all increased slightly with a decrease in trading volume, showing the cautious sentiment of investors. At the end of the trading session, VN-Index increased by 12.47 points (+1.0%) to 1,262.82 points; HNX-Index added 2.28 points (+0.96%) to 240.36 points; UPCoM-Index inched up 0.04 points (+0.04%) to 90.57 points. Market liquidity continued to decrease compared to the previous session with a trading value of over VND 19,100 billion. Foreign investors net bought nearly VND 212 billion on all 3 floors.
According to the General Department of Customs, in March 2024, the country's trade balance of goods had a surplus of 2.78 billion USD, and in the first 3 months of the year, it had a surplus of 7.80 billion. Of which, export turnover in March reached 33.66 billion USD, up 36.4% over the previous month, import turnover reached 30.88 billion, up 32.5%. Accumulated from the beginning of the year to March 31, export turnover reached 92.88 billion USD, up 16.8% over the same period in 2023, import turnover reached 85.08 billion, up 14.0%. The total import-export turnover of the country in the first 3 months reached 177.96 billion USD, up 15.72% over the same period last year.
International News
The Westpac survey said its consumer confidence index fell 2.4% m/m in April to 84.4, following a 1.8% drop the previous month and well below the neutral mark of 100. This is also the second longest period of pessimism in Australia since the survey began in 1970, after the country's economic recession of the 1990s.
Japan's consumer confidence index rose to 39.5 in March from 39.1 in the previous month and in line with expectations for 39.6, the government said, marking the highest level since May 2019.
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