Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vietnam Bonds Rise as Banks With Surplus Cash Buying; Dong Gains

Don't Miss Out —
Follow us on:

April 12 (Bloomberg) -- Vietnamese bonds rose, with benchmark five-year yields sliding to the lowest in almost 17 months, on speculation banks are taking advantage of increased cash availability to buy debt. The dong advanced.

Government notes climbed for a sixth straight day after Governor Nguyen Van Binh said on the central bank’s website yesterday that lenders’ current surplus funds totaled 130 trillion dong ($6.2 billion), without giving comparative data.

“Bonds are still a good investment channel now, so almost every bank wants to buy more bonds especially when they have a funds surplus,” said Do Thi Lan Anh, a fixed-income dealer at Vietnam Technological and Commercial Joint-Stock Bank in Hanoi.

The yield on five-year notes fell one basis point, or 0.01 percentage point, to 11.20 percent, the lowest level since Nov. 17, 2010, according to a daily fixing from banks compiled by Bloomberg. Three-year yields dropped five basis points to 11.09 percent, the least since Feb. 18, 2011.

The dong advanced 0.1 percent to 20,825 per dollar as of 3:15 p.m. in Hanoi, according to data compiled by Bloomberg. The central bank set the reference rate at 20,828, unchanged since Dec. 26, its website showed. The currency is allowed to trade as much as 1 percent on either side of the fixing.

To contact Bloomberg News staff for this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.