December 21: Vietnam c.bank keeps the US dollar exchange rate at 20,813 dong

Vietnam’s central bank still kept the US dollar exchange rate unchanged at 20,813 dong today December 21 after it suddenly raised the forex rate to all-time high in its history on December 14.

Since October 5, the reference rate has gained 185 dong per dollar, equivalent to 0.9 percent increase, getting closer to the SBV’s target to limit the exchange rate rise under 1 percent through the end of the year.

Commercial banks are allowed to apply the effective exchange rate +/-1 percent from the official rate set by the central bank; accordingly, the ceiling price for a dollar today was 21,011 dong.

Vietcombank, Asia Commercial Bank, Eximbank and some other banks bought the dollar at between 21,000-21,018 dong and sold the greenback at 21,021 dong/US dollar.

Late yesterday, the US dollar on the free market was still traded at 21,340 dong (purchase) and 21,380 dong (sell). Meanwhile, the exchange rate at SBV’s Forex Transaction Department was 20,605 dong/US dollar (buy) and 21,021 dong/US dollar (sell).

 

Category: Finance