Dollar price bounces back on unofficial markets

After nearly a week of decrease, on Oct. 12 morning, the US dollar selling price on free markets bounced back 120 dong to reach 21,400 dong/US dollar.
Meanwhile, the inter-bank average exchange rate today remained unchanged at 20,668 dong/US dollar.

The US dollar selling price of commercial banks simultaneously hit the ceiling rate of 20,875 dong, while the dollar purchase price also ranged from 20,850 to 20,870 dong.

This morning, a gold shop on Au Co Street, District 11, HCM City quoted the dollar price at 21,300 dong (buying) and 21,400 dong (selling).

Compared to early yesterday morning, the US dollar price increased by 120 dong on free markets.

At 09:30 a.m, the US dollar price of a gold shop on Phan Chu Trinh Street, next to Ben Thanh Market continued to rise another 50 dong to 21,350 – 21,450 dong (buy – sell).

The difference in the dollar prices of free markets and banks has increased to 525 dong/US dollar, which is still a big gap, even though in the past two weeks, the State Bank of Vietnam (SBV) had to increase the inter-bank rate by 40 dong. This has suggested that the stress on the foreign exchange market is not over yet. – Source: Vietbiz24.com

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam forex market

Posted by VBN on Oct 13 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry