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 keep rate stable.
The rate offered by major commercial banks and the gold shop rate are stable at VND20,890 for offer after few days of adjusting it up.
The USD/VND exchange rates in both the official and free markets have been fairly stable in the context that banks’ liquidity in VND improved, liquidity in the interbank market improved and overnight and less than 1 week interest rate stayed at 1 percent p.a. and further deposit rate cap cut is likely this month.
Local gold prices were also stable at VND41.4 million/tael today.
Private currency dealers often use the price of gold as a benchmark to calculate dollar rates.