Economic news review December 30

The central exchange rate increased by 5 VND, the VN-Index decreased by 3.12 points, and the amount of remittances flowing to Vietnam in 2024 is expected to reach about 16 billion USD... are some notable economic news on December 30.

Economic information review

Domestic news

In the foreign exchange market on December 30, the State Bank listed the central exchange rate at 24,327 VND/USD, up 5 VND compared to the session at the end of last week.

The buying and selling prices of USD were kept unchanged by the State Bank of Vietnam at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the dollar-dong exchange rate closed at 25,485 VND/USD, a sharp increase of 30 VND compared to the session on December 27.

The dollar-dong exchange rate on the free market increased by 90 VND in both buying and selling directions, trading at 25,750 VND/USD and 25,850 VND/USD.

On December 30, the average interbank interest rate in VND decreased by 0.06 - 1.12 percentage points for all terms of 1 month or less compared to the session at the end of last week; specifically: overnight 2.98%; 1 week 4.94%; 2 weeks 5.24% and 1 month 5.30%.

The average interbank USD offering interest rate decreased by 0.02 - 0.04 percentage points in most terms except for the unchanged 1-week term, trading at: overnight 4.40%; 1 week 4.50%; 2 weeks 4.56%, 1 month 4.60%.

Government bond yields in the secondary market fluctuated slightly in opposite directions, closing at: 3-year 2.03%; 5-year 2.29%; 7-year 2.52%; 10-year 2.96%; 15-year 3.12%.

Yesterday, in the open market operation, on the mortgage channel, the State Bank of Vietnam (SBV) offered VND5,000 billion for a 7-day term, with an interest rate of 4.0%. There were VND5,000 billion in winning bids; there was no maturity volume. The SBV offered SBV bills for 7-day and 14-day terms, with interest rate bidding. There were VND8,390 billion in winning bids for a 7-day term and VND1,600 billion in winning bids for a 14-day term, both with an interest rate of 4.0%. There were VND12,100 billion in maturing bills.

Thus, the State Bank of Vietnam pumped a net VND7,110 billion into the market through the open market channel yesterday. There were VND84,999.91 billion circulating on the mortgage channel, and VND62,780 billion in treasury bills circulating on the market.

Yesterday, the stock market saw major indices continue to fluctuate within a narrow range below the reference level and close in red. At the end of the session, VN-Index fell 3.12 points (-0.24%) to 1,272.02 points; HNX-Index lost 0.99 points (-0.43%) to 228.14 points; UPCoM-Index increased 0.53 points (+0.55%) to 95.0 points. Market liquidity was very low with a trading value of about VND 12,500 billion. Foreign investors net bought slightly less than VND 2 billion on all three exchanges.

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said that the amount of remittances flowing into Vietnam in 2024 is expected to reach about 16 billion USD, equivalent to the record level recorded in 2023, after a period of slow growth due to the COVID-19 pandemic. In addition, overseas Vietnamese participated in direct investment in 421 projects with a total registered capital of 1.72 billion USD in 42 provinces and cities across the country.

There are currently over 700,000 Vietnamese workers working abroad under contracts with stable incomes, bringing in foreign currency revenue of about 3.5 - 4 billion USD per year.

International news

The National Association of Realtors (NAR) said that pending home sales in the US increased 2.2% compared to the previous month in November, following a 1.8% increase in October and at the same time significantly higher than the forecast increase of 0.9%. Thus, this indicator has increased continuously in the past 4 months. Compared to the same period in 2023, pending home sales increased about 6.9%.

According to the survey results of S&P Global, the official PMI index of the Japanese manufacturing sector was at 49.6 points, a slight improvement from the preliminary 49.5 points which was also forecast by the market, and higher than the 49.0 points of November.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-3012-159466-159466.html