Central bank increases forex by VNÐ10 per dollar

by lexie Thu Oct 13, 2011 2:13 pm

October 13, 2011

Central bank increases forex by VNÐ10 per dollar

The State Bank of Viet Nam has today slightly devalued the Vietnamese dong against the US dollar to VND20,678 per dollar on the inter-bank market, compared to yesterday's exchange rate of VND20,668.

This is the fifth increase announced by the central bank since last Wednesday and is the highest exchange rate seen since May, which has seen the domestic currency depreciate by VND50 against last month's rate of VND20,628.

The SBV also announced the ceiling exchange rate for commercial banks was set at VNÐ20.885 per dollar. Commercial banks' ceiling and floor exchange rates now would be allowed to trade within one per cent of the inter-bank rate.

Commercial banks have raised their exchange rates accordingly with Vietcombank, BIDV, Eximbank and ACB posting their selling rate this morning at VND20,885 per dollar.

http://www.vietfinancenews.com/2011/10/central-bank-increases-forex-by-vn10.html#more