The State Bank of Vietnam, the country’s central bank, Friday set the exchange rate for the US dollar at VND20,828, unchanged from Thursday, commercial banks adjusted the rate up by VND5-10.
The rate offered by major commercial banks and the gold shop rate are at VND20,910-VND20,930 for bid and VND20,970-VND20,990 for offer. Dollar prices varied from banks to banks and a bit fluctuating these days but the central bank’s midpoint rate is still stable for more than 6 months.
The USD/VND exchange rates in both the official and free markets have been up and down in these days, but in small range while the midpoint rate set by the central bank is still firm.
Local gold prices are up VND70,000/tael to VND42.28 million/tael today.
Private currency dealers often use the price of gold as a benchmark to calculate dollar rates.