August 15: Vietnam central bank holds dollar exchange rate at 20,618 dong

Vietnam’s central bank set the US dollar’s exchange rate at VND20,618 on Monday, unchanged for 5 straight days.

Commercial banks are allowed to apply effective exchange rate +-1 percent from the official exchange rate set by the central bank, hence, the ceiling price for a dollar today was VND20,824.

Dollar quote at commercial banks this morning was almost unchanged from yesterday close except that BIDV raised dollar open bid by VND80 and inter-bank bid by VND14.

Dollar at the gold-shops was also stable.

New Governor Nguyen Van Binh said he aimed to keep forex market stable to the end of the year, abd dong depreciation, if it has to be, will be less than 1 percent. He even seeks to strengthen the dong.

 

Category: Finance