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43W26: Interbank rates cool down despite SBV liquidity absorption

October 26, 2026

In 43W26, the SBV recorded a net liquidity withdrawal from the banking system via open market operations, as a sharp drop in new repo issuance reflected easing refinancing demand from commercial banks. In the money market, interbank borrowing costs declined across most tenors despite central bank drainage, as system liquidity remained ample. On the FX front, the USDVND rate edged lower in line with a slight decline in the global greenback, as upward pressure from persistent foreign equity net selling was overshadowed by a surplus trade balance and elevated VND-USD interest rate differentials.

FI-43W26-Eng
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