Techcombank to reinforce foreign currency supply
Source: 26-JUL-2008 Intellasia | 24/Jul/2008 Hanoi Moi
Jul 26, 2008 - 7:00:00 AM Vietnam Technology and Commerce Joint Stock Bank (Techcombank) recently announced that it would strengthen more its foreign currency supply to the market.

According to Techcombank, the forex rate in the free market is tending to increase strongly and quickly from July 21 due to psychology factor. Banks in general and Techcombank in particular, have been satisfying quite well the forex demand under listed rates, said Techcombank.

The bank recommend customers, especially those who have legitimate purpose on buying foreign currency should buy foreign currency at official forex systems such as commercial banks instead of in the "dark market"

The dong/US dollar rate on July 24 at Techcombank was 16,580 dong in buying price and 16,770 dong in selling price and that of Vietcombank were 16,740 dong and 16,825 dong respectively.

Meanwhile, the forex rate in the free market was ranged at between 16,900 dong and 16,960 dong.