Jan. 16 (Bloomberg) -- Vietnam’s three-year bonds gained on speculation investors have more funds to buy debt following cash injections by the central bank. The dong was little changed.
The State Bank of Vietnam added a net 54.5 trillion dong ($2.6 billion) last week via open-market operations, after withdrawing 4 trillion dong in the prior period, according to Nguyen Duy Phong, a Ho Chi Minh City-based analyst at Viet Capital Securities.
“Bonds gained because some banks probably have surplus cash and wanted to invest in the securities,” Phong said.
Yields on three-year debt fell two basis points, or 0.02 percentage point, to 12.43 percent as of 4:17 p.m. in Hanoi, according to a daily fixing from banks compiled by Bloomberg.
The dong was little changed at 21,035 per dollar, according to data compiled by Bloomberg. The central bank set the reference rate at 20,828, its website showed. The currency is allowed to trade as much as 1 percent on either side of the official rate.
--Nguyen Kieu Giang. Editors: Anil Varma, Sandy Hendry
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