April 25: Vietnam Central Bank Keeps Dollar Exchange At 20,828 dong

Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Wednesday, unchanged from December 26, the longest string since it has been applied but also the highest one.

Commercial banks are allowed to apply effective exchange rate +-1 percent from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036 but commercial banks mostly quoted dollar prices below the upper limit.

Some commercial bank changed dollar prices today, ranged from VND20,820-20,840 for bid and VND20,870-20,880 for ask, respectively.

Vietnam’s foreign currency reserves rose to the equivalent 9 weeks of imports from about 7.5 weeks as of mid-2011, the local newswire NDHMoney.vn reported, citing the government’s latest report to the Standing Committee of the National Assembly.

 

Category: Finance