VIETNAM - Central Bank Quotes Dollar At VND20,828
VIETNAM - Central Bank Quotes Dollar At VND20,828
by lexie Tue Feb 14, 2012 10:36 am
February 14, 2012
Central Bank Quotes Dollar At VND20,828
The State Bank of Vietnam set the exchange rate for the U.S. dollar at VND20,828 Tuesday, unchanged from Monday.
Currency dealers said the leading commercial bank, Vietcombank, raised its rates slightly, but other major banks set their rates lower amid weak demand for the greenback.
"After the government last week revised its statistical figures and announced a trade surplus of $170 million for January, corporate demand for the dollar decreased," said a dealer with Ho Chi Minh City-based Vietcombank.
The dealer also noted that many trading companies dealing in raw materials for the steel, chemical and garment industries cut down on imports in January because domestic consumption declined. "Obviously, the local economy is showing signs of weakness as the demand for imports has weakened," he said.
http://www.vietfinancenews.com/2012/02/feb-14-central-bank-quotes-dollar-at.html#more
Central Bank Quotes Dollar At VND20,828
The State Bank of Vietnam set the exchange rate for the U.S. dollar at VND20,828 Tuesday, unchanged from Monday.
Currency dealers said the leading commercial bank, Vietcombank, raised its rates slightly, but other major banks set their rates lower amid weak demand for the greenback.
"After the government last week revised its statistical figures and announced a trade surplus of $170 million for January, corporate demand for the dollar decreased," said a dealer with Ho Chi Minh City-based Vietcombank.
The dealer also noted that many trading companies dealing in raw materials for the steel, chemical and garment industries cut down on imports in January because domestic consumption declined. "Obviously, the local economy is showing signs of weakness as the demand for imports has weakened," he said.
http://www.vietfinancenews.com/2012/02/feb-14-central-bank-quotes-dollar-at.html#more
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