Interbank forex rate jumps up to 20,708 dong/US dollar on Oct. 15

The State Bank of Vietnam (SBV), the country’s central bank on Saturday October 15 continued to increase the inter-bank average exchange rate for the fourth time this week to 20,708 dong/US dollar from 20,688 dong/US dollar a day earlier.
With the increase of 20 dong/US dollar today, the reference rate has marked the day of strongest increase in US dollar price since February 12, 2011 and reached the highest level since May 9, 2011.

Since October 5, the exchange rate has increased by 80 dong per dollar, equivalent to 0.387% increase.

With this reference rate hike, the dollar price at banks is today expected to exceed 20,900 dong per dollar.

This week, on the free market, the exchange rate increased dramatically in the first days of the week, but cooled down for the weekend.

On Oct. 14, the US dollar price in the Hanoi free market fell back to 21,320 dong (buying) and 21,420 dong (selling). – Source: Vietbiz24.com

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

Posted by VBN on Oct 15 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