18
September
Renewed USDVND increase heads to FOMC
The money market held a silent tone this week, while the volatility in the FX market rose heading to the September FOMC next week. Overnight interbank rates stayed at nearly zero, representing excessive liquidity and slowing lending performance. USDVND renewed its upturn with a significant increase of 0.78% compared to last week. The persistence in negative swap spread and rising demand for import peak season may explain FX movement this week.