The State Bank of Vietnam, the country’s central bank, Friday set the exchange rate for the US dollar at VND20,828, unchanged for 7 months while Vietcombank, Vietnam’s biggest dollar trader, adjusted the rate up to VND20.
Banks are allowed to trade dollar at +/-1 percent from central bank quote and the ceiling price for dollar is currently at VND21,036.
The rate offered by major commercial banks and the gold shop rate are at VND20,840-VND20,870 for bid and VND20,010 – VND20,940 for ask. This showed that the rate gap at different banks is widening to VND30/USD
Local gold prices fell back to VND42 million/tael threshold and the local gold premium was still high.