SBV withdraws $8.5bln

The State Bank of Vietnam (SBV) has net withdrawn nearly VND200 trillion ($8.5 billion) through the open market treasury bill channel in recent times. It also withdraws money through foreign currency sales. Viet Dragon Securities (VDSC) estimates that, in a bid to prevent the devaluation of the VND, the central bank has sold about $13 billion since the beginning of the year.