The price of a dollar is down 30 dong over the previous day at Vietcombank. — Photo tygiavang.vn HA NOI (Biz Hub) — The US dollar prices fell in many banks on Thursday morning after staying almost unchanged for a long time, news website gafin.vn reported. Vietcombank adjusted the buying and selling prices of a dollar to VND21,270 and 21,340, respectively, down 30 dong over the previous day. ACB lowered the prices by 20 dong to VND21,250 and VND21,320, respectively, and Vietinbank reduced the prices by the same margin, to VND21,270 and VND21,350 respectively. At BIDV, the prices were reduced by 10 dong to VND21,280 and VND21,340 respectively. Techcombank reduced the dollar buying and selling rates by 20 dong and 30 dong to VND21,250 and VND21,335 respectively. DongA Bank slashed the rates by 20 dong and 10 dong, listing the prices at VND21,280 and VND21,325 respectively. In an economic report for the first half of the year, National Financial Supervisory Commission … [Read more...] about Banks reduce dollar prices
Dollar price on informal market lower than at banks Tran Thu By Tran Thu - The Saigon Times Daily HCMC - The U.S. dollar buying and selling prices quoted by banks on February 25 fell to a 20-day low while the selling price on the informal market was lower than at a number of commercial banks. Vietcombank on February 25 morning bought one dollar at VND22,280 and sold it at VND22,350, down VND30 against the previous day and down VND60 compared to the beginning of this week. Meanwhile, ACB, Eximbank and VietinBank quoted the dollar buying price at VND22,280, VND22,290 and VND22,350 respectively, and their respective selling prices were VND22,340, VND22,350 and VND22,380. At ACB, the greenback was at its lowest since February 4. However, the dollar appreciated slightly against the Vietnam dong on the domestic market in the afternoon. At the end of the day, Vietcombank’s buying and selling prices rose by VND5 each to VND22,285 and VND22,355 respectively, down VND25 versus the … [Read more...] about Dollar price on informal market lower than at banks
VietNamNet Bridge – If the State Bank of Vietnam (SBV) had not made the timely intervention, the dollar prices would have tumbled more dramatically in recent days. This was for the first time since August 7, 2013, that the State Bank’s Exchange raised the dollar purchase price sharply, the move aiming to brake the decrease of the dollar price. The action has helped the dollar prices quoted by commercial banks to return to VND21,110 per dollar level. The new exchange rate does not represent a big gap if compared with the VND21,115 per dollar rate which has been stabilized since the end of 2013. However, it reflects a new situation. Central bank continues buying dollars What happened on the 2012 pre-Tet days are repeating now, just three weeks before the 2014 Tet. The dollar price has been decreasing, though the decrease is less sharp than the VND300 per dollar decrease in 2012. In 2012, commercial banks lowered the dollar purchase prices by VND300. Governor of the … [Read more...] about State Bank makes big efforts to stem dollar price fall
VietNamNet Bridge - The predicted high trade deficit in the first four months of the year reportedly put pressure on the exchange rate and led to the State Bank’s decision to devalue the VND by one percent on May 7. After three days of the dollar price soaring, the market unexpectedly cooled down on the afternoon of May 15. This was attributed to the State Bank’s statement that it was ready to sell dollars to intervene in the market if necessary. The statement was made at the same time when the General Department of Customs (GDC) released a report on the lower-than-expected trade deficit in the first four months of the year. The department reported that in April 2015 Vietnam exported more than it imported, with a trade surplus of $900 million. This helped narrow the trade deficit of the country in the first four months of the year to $2.07 billion. The General Statistics Office (GSO) estimated that the trade deficit would be as high as $3 billion in the first four … [Read more...] about Statistics Office’s inaccurate prediction about trade deficit behind dollar price hike?
VietNamNet Bridge – The US dollar climbed to its highest peak against the Vietnamese dong yesterday morning to VND21,245 per dollar, but analysts believe that the exchange rate will stabilise. About half a month ago, the foreign exchange market turned hot when the dollar price in the black market increased by VND10 per dollar on May 16 to VND21,270-21,290 per dollar (buying and selling prices). The dollar price quoted by Vietcombank on the same day was 21,120-21,170. Meanwhile, the interbank exchange rate set by the State Bank of Vietnam stayed at VND21,036 per dollar. The sharp increase in the dollar value by that time gave people a start. Prior to that, the State Bank of Vietnam promised to keep the dong/dollar exchange rate stable this year with the dong devaluation between one and two percent. Meanwhile, by mid-May, the dollar price increased by 1.27 percent on the black market and 0.7 percent in the official market. However, these were not the highest peaks for the … [Read more...] about Dollar price hits ceiling, but exchange rate stable