Interbank average forex rate unchanged

The State Bank of Vietnam (SBV) has announced the interbank average forex rate today Friday September 30 at 20,628 dong/US dollar, remaining unchanged for 32 consecutive days.
This is the longest period the interbank average forex rate has been kept stable since the central bank officially applied the daily forex rate adjustment on February 11, 2011.

Accordingly, the forex rate ceiling at commercial banks today is 20,834 dong/US dollar.

As reflected by Thoi Bao Kinh Te Saigon (Saigon Economic Times) newspaper, last week, the central bank sold $150 million to keep the forex rate stable.

Earlier at the meeting with banks on September 7, SBV said that in the remaining months of this year, the central bank will keep the forex rate stable with fluctuation of less than 1%. SBV also confirmed that it is willing to sell foreign currency to intervene the market if needed to support the forex rate stability.
Source: Vietbiz24.com

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

Posted by VBN on Sep 30 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