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Yield of T-bills drops 2.78pct in last week
In the week between April 16 and 20, the open market operations (OMO) witnessed the constant declines of the yield of treasury bills.
In details, the yield of 28-day tenor T-bills decreased from early week till the end of the week to stand at 7.49 percent per annum (p.a.) on April 20. Thus, the yield of T-bills fell 2.78 percent p.a. in week, a staggering decline after the deposit interest rate cap was cut down to 12 percent/ year from April 11.
Meanwhile, the yield of 91-day tenor T-bills slipped to 10.2 percent p.a., down 0.51 percent in week and 182-day term remained unchanged at 11.25 percent p.a.
The phenomenon of continuously strongly decreasing T-bill yield appeared immediately after the interest rate in the interbank market dropped sharply to the lowest of 4.55 percent p.a. in week.
Alghouth the yield of these T-bills fell constantly; many commercial banks still boosted buying T-bills. According to the data from Reuters, in week, commercial banks spent 11.852 trillion dong on buying the central bank’s T-bills.
The statistics from March 15 to April 20 showed that the central bank issued 66.306 trillion dong worth of T-bills while the volume of 28-day tenor T-bills being matured was 6.495 trillion dong. Thus, the central bank posted a net issuance of T-bills at 59.811 trillion dong in the period.
In the interbank market, the interest rate kept falling strongly when the overnight interest rate slipped to 4.55-5 percent p.a. on April 20, one week at 5.5 percent p.a., 2-weeks at 6-6.25 percent p.a. and 3-month at 9-9.75 percent p.a.
In the bond market, the yield of bond for 5-year tenor also slipped to 10.9 percent p.a., marking the lowest since October 2010.
NDHMoney
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