Oct 12: Vietnam central keeps dollar exchange high at vnd20,668

Vietnam’s central bank kept the U.S. dollar’s exchange rate at high level of VND20,668 for a second day Wednesday, the highest rate since May 27, 2011.

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 VND20,875 and the flooring price was VND 20,461.

Most of commercial banks increased dollar prices for bids and applied the ceiling VND20.875 for ask as the local gold prices and dollar prices at the gold shops increased.

Dollar Price Quote for Oct 12 ,2011.

Bank	Bid	Change	Ask	Change
Vietcombank	20,870	14	20,875	0
VIB	20,870	15	20,875	0
Eximbank	20,855	0	20,875	0
BIDV	20,860	0	20,875	0
Vietinbank	20,870	20	20,875	0

Dollar prices at the gold shops in Hanoi rebounded against falls last few days. This morning, trading was around VND21,350- VND21,450 for bid and ask respectively, increased VND120 for bid and VND170 for ask from yesterday and VND 575 higher than the official ceiling rate.

Analysts said dollar exchange rate faces certain pressure in the last months of the year on seasonal factors due to high import demand before lunar Tet holiday, contract settlement, and loans paybacks.

Source TEI/ News Writer/ StoxPlus

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Oct 12 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