Oct 13: Vietnam central bank raises dollar exchange to 5 months high at vnd20,678
Vietnam’s central bank adjusted up by VND10 to VND20.678 for the U.S. dollar’s exchange, 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 VND20,885.
Commercial banks increased dollar prices from VND10 to VND20 for bids and applied the ceiling VND20.885 for ask following the central bank’s move.
| Bank | Bid | Change | Ask | Change |
| Vietcombank | 20,800 | 10 | 20,885 | 10 |
| Eximbank | 20,875 | 20 | 20,885 | 10 |
| BIDV | 20,870 | 10 | 20,895 | 0 |
| Vietinbank | 20,880 | 10 | 20,885 | 10 |
Dollar prices at the gold shops in Hanoi increased again this morning, trading around VND21,500, rising VND50 from yesterday and VND615 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, 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
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