Feb 25: Vietnam central bank keeps dollar exchange at vnd20,828

Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Saturaday, unchanged for 8 weeks. The central bank has kept the U.S dollar exchange rate stable for the longest period since early 2011.

This is also the highest dollar midle point rate set by the central bank over the last 3 years.

Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036.

Commercial banks quoted dollar prices today from VND20,790-20,810 for bid and VND20,850-29,950 for ask, respectively.

Dollar Price Quote for Feb 25th, 2012.

Bank	Bid	Change	Ask	Change
Vietcombank	20,810	0	20,870	0
ACB	20,790	0	20,850	0
BIDV	20,800	0	20,850	0
Eximbank	20,800	0	20,850	0
SeABank	20,810	0	20,950	0
Vietinbank	20,810	0	20,855	5

 

 

 

 

It is said that Dollar exchange rate have sharply dropped after the Lunar New Year-now due to high remittances sent home by Vietnamese residing oversea during the holidays, low demand and a huge surplus of  dollar in January.

Source TEI/StoxPlus

Tags: Vietnam banking industry, Vietnam banks, Vietnam finance