Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Vietnam’s Bonds Decline as Banks Hoard Cash Ahead of Tet Holiday

Vietnam’s two-year government bonds fell for the first time in a week on speculation banks are hoarding cash before next week’s Lunar New Year holiday. The dong was little changed.

The overnight interbank deposit rate rose 29 basis points to 4.07 percent today, taking its five-day gain to 173 basis points, according to daily fixings by banks compiled by Bloomberg. Financial markets will be shut Feb. 11 through Feb. 15 for the holiday, known locally as Tet.

“Demand is weak as investors are inactive before the long holiday,” said Nguyen Duy Phong, a Ho Chi Minh City-based analyst at Viet Capital Securities Co. “Banks also have to conserve liquidity, so they limit investment.”

The yield on the two-year bonds rose four basis points, or 0.04 percentage point, to 8.67 percent, according to a daily fixing rate from banks compiled by Bloomberg.

The dong traded at 20,828 per dollar as of 3:44 p.m. in Hanoi, compared with 20,830 yesterday, according to data compiled by Bloomberg. The State Bank of Vietnam set its reference rate at 20,828, unchanged since December 2011, according to its website. The currency is allowed to trade as much as 1 percent on either side of the rate.

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.