Vietnam central bank continues to raise interbank FX rate to 20653 dong/dollar

The State Bank of Vietnam (SBV), the country’s central bank on Friday October 7 continued to increase the interbank average exchange rate to 20,653 dong US dollar, an increase of 5 dong compared to yesterday.
Thus, the inter-bank exchange rate has been raised for three consecutive days, posting a total increase of 25 dong, the highest level since May 28, 2011.

The exchange rate ceiling of commercial banks today was 20,859 dong/US dollar.

The US dollar selling price of Vietnam Export-Import JS Bank, or Eximbank has been increased by 6 dong compared to yesterday to 20,860 dong/US dollar.

Yesterday, the SBV issued Decision No. 2209/QD-NHNN about reducing the interest rate of statutory reserves for deposits in foreign currency from credit institutions at the central bank from 0.1% / year to 0.05% / year, effective from Oct. 2011.

It also cut down the foreign currency deposit interest rate and treasury interest rate at the central bank from 0.1% / year to 0.05% / year, effective from Oct. 10, 2011. – Source: Vietbiz24.com

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Oct 7 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