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Vietnam bonds fall on interest-rate outlook; dong is unchanged
Vietnam’s five-year bonds Tuesday declined by the most in more than a month on concern policy makers will keep interest rates at the highest in Asia.
The dong was unchanged from Monday.
Benchmark yields rose from their lowest level since May 30 as Vu Bang, chairman of the State Securities Commission said in an interview on Monday that “interest rates need to be maintained at a high level” to cool inflation and ensure stable economic growth.
The yield on the benchmark five-year note rose 15 basis points to 16.10 percent, according to a daily fixing from 10 banks compiled by Bloomberg.
A basis point equals 0.01 percentage point.
Vietnamese dong was unchanged at 16,590 as of 4:39 p.m.
local time Tuesday, according to data compiled by Bloomberg.
The central bank set Tuesday’s dong reference rate at 16,501 versus the dollar, compared with 16,499 on Monday, according to its website.
The local currency is allowed to trade up to 2 percent on either side of that rate.
Thanhnien
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