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Central Bank Quotes Dollar At VND20,803 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Central Bank Quotes Dollar At VND20,803

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Central Bank Quotes Dollar At VND20,803 Empty Central Bank Quotes Dollar At VND20,803

Post by lexie Mon Oct 31, 2011 9:35 am

October 31, 2011


Central Bank Quotes Dollar At VND20,803

Vietnam's central bank set the U.S. dollar's exchange rate at VND20,803 Monday, unchanged from Friday.

Currency dealers in Hanoi and Ho Chi Minh City said the central bank and Vietcombank kept their rates unchanged after raising them over several days last week in line with increased demand for dollars from importers ahead of the year-end festive season.


In addition, demand for dollars has been dampened after authorities last week issued a new regulation to raise penalties on illegal transactions of foreign currencies in the domestic market.


The prices for gold and dollars in the free market also eased over the weekend after the central bank said late Friday that it is seeking government approval for a new decree to help tighten its control of the local gold market, said a dealer with a commercial bank.


"The authorities are trying to stabilize both the gold and foreign currency markets to ease pressure on the local currency, which has become weaker recently," the dealer added.


Dealers with private gold shops forecast the dollar to move in a VND21,400 to VND21,500 range this week. (Dow Jones)



http://www.vietfinancenews.com/2011/10/central-bank-quotes-dollar-at-vnd20803.html#more

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