Interbank average forex rate unchanged at 20,678 dong/US dollar May 16

The State Bank of Vietnam (SBV) announced today Monday (May 16) interbank average forex rate at 20,678 dong/US dollar, remaining unchanged from the forex rate on May 14.

Last week, the interbank average forex rate dropped totally 30 dong.

After the depreciation on the dong by 9.3 percent on February 11, 2011, in last two weeks, the dong gained by 2 percent against the US dollar. The foreign currency supply of banks also increased.

The US dollar selling price at commercial banks in last two week was lower than the interbank average forex rate announced by the central bank. The difference between the US dollar buying price and the forex rate floor has been dragged to low level.

In the morning May 16, the forex rate quoted at Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) is also unchanged from May 14 at 20,520-20,620 dong/US dollar. – Vietbiz24

Posted by VBN on May 16 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