Dollar rises sharply

Friday, Oct 03, 2014 16:16

The US dollar rates rose by about 75 dong per dollar winthin the last three days. — Photo

HA NOI (Biz Hub) ─ The US dollar rates have increased sharply during the last three days.

This follows market expectations that the State Bank of Viet Nam (SBV) may adjust the exchange rate, and that the dong interest rates may fall.

According to news website, the rates at most commercial banks rose by about 75 dong per dollar within the last three days. On Friday morning alone, the rates increased by 15 to 35 dong.

The dollar buying rate was between VND21,200 and VND21,270, while the selling rate was between VND21,300 and VND21,330 per dollar. The sharpest rise in the dollar rates was at Vietcombank, ACB and Eximbank, while there was moderate increase at BIDV, Techcombank and DongABank.

SBV Governor Nguyen Van Binh told a National Assembly Standing Committee (NASC) session on September 29 that while the central bank does not have to interfere in the market with the exchange rates remaining stable, some action may be considered to support exports.

The SBV increased the official dong-dollar interbank exchange rate by one per cent in June, and the accumulative adjustment level is likely to reach 1.43 per cent this year, he said.

On Friday, the exchange rates listed at the SBV head office remained unchanged, ranging between VND21,200 and VND21,300 per dollar, and the interbank rate stood at VND21,246 per dollar.

At the NASC session, Binh also mentioned possible dong interest rate cuts between now and the end of this year. ─ VNS

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