Vietnam interbank rates surge to 13% as central bank provides short‑term liquidity

On 30 June, Vietnam’s average interbank overnight rate jumped to 13 % per annum, a rise of 9.4 percentage points from the previous session. The spike followed a sharp increase in demand for VND liquidity at the end of the second‑quarter reporting period. In response, the State Bank of Vietnam (SBV) conducted a one‑week USD/VND swap operation, supplying VND to banks and easing the liquidity strain. The SBV also auctioned VND on the collateral‑based market, receiving bids for 16.5 trillion VND (seven‑day term) and 8 trillion VND (35‑day term) at 4.5 % per annum, injecting a net 14.6 trillion VND into the system. Analysts view the intervention as a short‑term stabilisation measure aimed at calming market expectations while broader external factors remain uncertain.