Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
VIETNAM - Inter-bank exchange rate slightly up I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

VIETNAM - Inter-bank exchange rate slightly up

Go down

VIETNAM - Inter-bank exchange rate slightly up Empty VIETNAM - Inter-bank exchange rate slightly up

Post by lexie Thu Dec 15, 2011 5:55 pm

December 15, 2011



Inter-bank exchange rate slightly up

The State Bank of Vietnam on Wednesday revised up the inter-bank foreign exchange rate by another VND10 to VND20,813 to the dollar, prompting commercial banks to quickly raise the trading rate to the cap of VND21,021.


The adjustment of the inter-bank rate, which has stayed put for over one month, pushed the greenback up by 0.9% against the local currency compared to early September when the central bank’s governor pledged to keep the rate not to exceed by more than 1% in the rest of the year.


Given the permitted trading band of 1% either side of the formal inter-bank rate, several commercial banks have immediately pushed up their quoted rates. Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) raised the spot rate to VND21,021, while Bank for Foreign Trade of Vietnam (Vietcombank) alone bought the U.S. dollar at VND21,015 and sold it at VND21,019.


The dollar traded outside banks, meanwhile, has eased, closing the gap with the formal rate. The greenback on Wednesday was traded at about VND21,150 and VND21,200 for buying and selling respectively on the free market, or merely around VND200 a U.S. dollar higher than that quoted by commercial banks.


Numerous shops in HCMC have stopped changing foreign currencies following Decree 95/2011/ND-CP issued by the Government on Oct 20, under which administrative sanctions were increased to VND500 million from VND70 million for illegal foreign currency trading activities.


According to Ban Viet Securities, local residents have shifted to selling the greenback to commercial banks, allowing the U.S. dollar supply in the banking system to be considerably replenished.


The local foreign currency supply has also swollen thanks to a possible US$3 billion surplus from the balance of payments, resulted from overseas remittances worth US$9 billion flown into the country this year as predicted by the World Bank. On top of that, the nation has witnessed its trade deficit sharply shrinking during the last month.


The narrowing gap of foreign exchange rates between the inter-bank market and the black-market is a positive factor and thus the rates will not be strongly fluctuating as it was in February this year, Ban Viet noted.



http://www.vietfinancenews.com/2011/12/inter-bank-exchange-rate-slightly-up.html#more



*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum