Vietnam effective Dollar hits ceiling again, volatility still seen

Eximbank, Sacombank, and ACB were three local banks briefly quoted dollar offer price at the ceiling of VND20,880 today.

Eximbank, Sacombank, and ACB were three local banks briefly quoted dollar offer price at the ceiling of VND20,880 today on +/-1% trading band basis despite the unchanged move in the inter-bank dollar midpoint rate of VND20.673, the lowest level since March 22.

The banks move came after the transaction office of the State Bank of Vietnam announced dollar offer price of VND20.880.

However, as of 11:30 Hanoi time, only Sacombank still quoted dollar offer prices at the ceiling, prices at Eximbank and ACB have been adjusted down.

Dollar Price Quote as of 11:30 Hanoi Time, May 18, 2011

Bank	Bid	Offer	Midpoint Rate	Ceiling
VCB	20700	20850	20673	20880
ACB	20730	20850	20673	20880
Eximbank	20730	20850	20673	20880
BIDV	20710	20850	20673	20880
Sacombank	20730	20880	20673	20880
Vietinbank	20700	20850	20673	20880

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