31W26: SBV returns to net injection amidst interbank rate surge

During 31W26, the SBV returned to a net liquidity injection via open market operations after three consecutive weeks of net withdrawal, introducing multiple longer-term repo tenors to support commercial banks amidst rising funding demand. Short-term interbank rates surged sharply, reflecting re-emerging short-term liquidity pressures across the banking system. On the FX front, the domestic USDVND exchange rate registered a slight decrease of 0.11% WoW to 26,296, aligned with the weakening U.S. dollar as diplomatic de-escalation efforts in the Middle East helped pull back crude oil prices. However, domestic downside momentum was constrained by persistent foreign net selling on the HoSE and ongoing trade deficit pressures.