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Oct 10: Central Bank Quotes Dollar At VND20,653 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Oct 10: Central Bank Quotes Dollar At VND20,653

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Oct 10: Central Bank Quotes Dollar At VND20,653 Empty Oct 10: Central Bank Quotes Dollar At VND20,653

Post by lexie Mon Oct 10, 2011 12:41 pm

October 10, 2011


Oct 10: Central Bank Quotes Dollar At VND20,653


Vietnam's central bank set the U.S. dollar's exchange rate at VND20,653 Monday, unchanged from Friday.

Currency dealers said free-market rates fell after several local banks sold more than 8 tons of gold over the past four days in an effort to narrow the price gap of the yellow metal between the domestic and overseas markets.


"Because local currency dealers always use gold prices to calculate dollar rates, any movement in those prices influences the dollar rate," said a dealer with the Hanoi-based Vietnam Gold Traders Association.


The price of gold in the domestic market dropped to VND43.3 million a tael ($1.728 a troy ounce) Monday from VND44.1 million Friday, dealers said.


Dealers at gold shops in Hanoi and Ho Chi Minh City forecast the dollar to move in a VND21,300-VND21,400 range this week.





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




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