Dong slips to 16,000 against dollar on free market

07-Jan-2007 Intellasia | 16-MAR-2004 Tuoi Tre Page 2 | 2:21 PM Print This Post

The State Bank of Vietnam said on March 15 that it had sold US$300 million to commercial banks to balance due payments by international traders in the first two months of the year. The SBV presented figures showing that during the same period, commercial banks sold US$2.78 billion to businesses but bought back only US$2.3 billion. Even though demand for foreign currencies is high due to psychological pressure, the SBV and commercial banks have been able to meet it.

Meanwhile, the US dollar selling price in the free market reached the round figure of 16,000 dong on March 15 resulting in a difference of 234 dong for each US dollar between the state-determined rate and the free market rate.


Category: Finance

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