Vietnam bonds gain on speculation banks stepping up purchases
Published: 27/05/2011 05:00
Vietnam’s government bonds advanced Thursday on speculation banks are buying more dong-denominated debt after credit restrictions and interest-rate increases reduced commercial lending. The dong gained. The Southeast Asian nation cut its credit-growth target to less than 20 percent this year, from 23 percent, and tightened monetary policy to restrain price gains and stabilize the dong. Vietnam’s central bank has raised at least one of its key interest rates each month this year to damp inflation, which accelerated to 19.8 percent in May from a year earlier. “Banks cannot lend right now because of credit squeezing and very high interest rates,” said Nguyen Tan Thang, head of fixed-income research at Ho Chi Minh City Securities Corp. Banks are choosing to buy bonds instead, he said. Two-year bond yields fell 20 basis points, or 0.2 percentage point, to 12.67 percent, according to a daily fixing rate from banks compiled by Bloomberg. The dong strengthened 0.5 percent to 20,625 per dollar as of 5:19 p.m. Thursday in Hanoi, according to data compiled by Bloomberg. The central bank set the reference rate at 20,658 Thursday, compared with 20,663 Wednesday, according to its website. The currency is allowed to trade up to 1 percent on either side of the rate. Source: Bloomberg |
Provide by Vietnam Travel
Vietnam bonds gain on speculation banks stepping up purchases - Business - News | vietnam travel company
You can see more
- Vietnamese airlines plan to expand new international flights
- Kien Giang promotes tourist attraction
- Giant projects heat Phu Quoc Island’s property market
- AirAsia plans Vietnam venture on Southeast Asia travel boom
- Ho Chi Minh City targets tourism revenue of $5.3 billion
- Vietnam active in G20 senior official meeting in Germany
- Banks struggle to raise capital
- Vietnam Airlines inks tourism promotion deal, Hai Phong City
enews & updates
Sign up to receive breaking news as well as receive other site updates!
- Hanoi ranked top 3 cuisine in the world in 2023
- Beautiful resorts for a weekend escape close to Hanoi
- Travel trends in 2023
- In the spring, Moc Chau is covered in plum blossoms.
- The Most Wonderful Destinations In Sapa
- Top 3 Special festivals in Vietnam during Tet holiday - 2023
- 5 tourist hotspots expected to see a spike in visitors during Lunar New Year 2023
- How To Make Kitchen Cleaned
- Health benefits of lime
- Cooperation expanding between Havard University and Vietnamese universities
-
vietnam travel
http://www.vietnamtourism.org.vn " Vietnam Tourism: Vietnam Travel Guide, Culture, Travel, Entertainment, Guide, News, and...
-
Vietnam culture, culture travel
http://travel.org.vn " Vietnam culture
-
Vietnam travel, vietnam travel news, vietnam in photos
http://www.nccorp.vn " Vietnam travel, vietnam travel news, vietnam in photos
-
Vietnam tourism
http://www.vietnamtourism.org.vn " The official online information on culture, travel, entertainment, and including facts, maps,...
-
Vietnam Travel and Tourism
http://www.vietnamtourism.org.vn/ " Vietnam Travel, Entertainment, People, Agents, Company, Vietnam Tourism information.
-
Information travel online
http://www.travellive.org "Information travel online