Vietnam’s State Treasury raised VND1.88 trillion ($89.4 million) by selling government bonds in its first auction of the year, the Hanoi Stock Exchange said.
The treasury sold the entire amount of VND1 trillion of three-year debt it offered at a yield of 12.10 percent, and raised VND880 billion via five-year debt at 12.15 percent, the exchange said in a statement seen by Reuters on Friday. The auction was on Thursday.
“This is a good sign of improved liquidity at major lenders, while cash demand in the short term is easing, which may create room for imminent rate cuts,” said Quach Manh Hao, deputy director of Thang Long Securities.
At its last auction, on Dec. 28, the treasury raised VND900 billion through the sale of three-year government bonds at a yield of 12.10 percent.
Vietnam expects to raise about VND25 trillion ($1.19 billion) from selling government debt in the first quarter of this year, the exchange said in another statement.