The State Bank of Vietnam, the country’s central bank, Tuesday set the exchange rate for the US dollar at VND20,828, unchanged for 6 months, however, commercial banks sharply adjusted the rate down by up to VND75.
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 VND20,880-VND20,925 for bid and VND20,940-VND21,015 for ask.
Vietcombank, the country’s biggest dollar dealer, adjusted dollar prices down sharply by VND50 to VND20,890 for bid and VND20.960 for ask.
Strongest drop was seen at ACB’s rate, down by VND60 to VND20.800 for bid and VND20,940 for bid.
Local gold prices breached down VND42million/tael and the local gold premium stayed at VND1,700 a tael today.