|
Vietnam’s bonds fall ahead of debt sale
Vietnam’s government bonds fell for a second day on speculation investors reduced their holdings before a VND500 billion (US$30 million) debt sale Thursday. The dong advanced.
The government has approved state-owned Highway Investment and Development Co.’s plan to sell 15-year bonds today, according to a statement from the Hanoi Securities Trading Center, where the auction will take place.
The yield on the benchmark five-year note rose 8 basis points to 16.41 percent, according to a daily fixing price from 10 banks compiled by Bloomberg.
A basis point equals 0.01 percentage point.
The dong gained, heading for a second monthly advance, on speculation the central bank is letting the currency strengthen to help slow inflation from the fastest since at least 1992.
A stronger currency reduces the cost of imports.
The State Bank of Vietnam set the reference rate for the dong at 16,497 per dollar Wednesday, compared with 16,499 Tuesday, according to its website.
The currency is allowed to trade up to 2 percent on either side of that rate.
The dong rose 0.08 percent to 16,617.50 per dollar as of 3:15 p.m. in Hanoi, according to data compiled by Bloomberg.
The currency has gained 0.9 percent this month.
Thanhnien
|
