May 30: Vietnam Central Bank Keeps Dollar Exchange At 20,828 dong, Commercial Banks Rate Up

31-May-2012 Intellasia | StoxPlus | 7:01 AM Print This Post

Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Wednesday, unchanged for more than 5 months, the longest string since it has been applied but also the highest one.

Commercial banks are allowed to apply effective exchange rate +-1 percent from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036 but commercial banks mostly quoted dollar prices below the upper limit.

Most of commercial banks raised dollar prices by VND5-10 per dollar today, ranging from VND20,830-20,845 for bid and VND20,885-20,890 for ask, respectively.

The State Bank of Vietnam (SBV) announced to adjust down benchmark interest rates and deposit rate caps for the third month in succession by another 1 percent from May 28, the central bank said in a statement released last Friday.


Category: Finance

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