SBV makes no change on the interbank exchange rate of VND21,907 per dollar on January 6. — Photo infornet.vn

On January 4, which was the first day the SBV started setting a daily central rate instead of maintaining a fixed rate for a long period, the bank set the dollar rate at VND21,896, six dong higher than the fixed rates since August 2015. The trading band of the dollar was still plus or minus three per cent. In response, local commercial banks also added 10 to 50 dong per dollar and set the buying and selling rates at VND22,470 and VND22,540, respectively.

On January 5, when the SBV added 11 more dong to the central rate, most banks reduced their dollar rates, selling and buying the dollar for VND22,440 and VND22,510, respectively, which were 30 dong less each compared to January 4.

Vietcombank, at the meantime, bought the American dollar for VND510 and sold it for VND22,540. The dollar buying and selling rates in BIDV and ACB were VND22,440 and VND22,500, while they were VND22,435 and VND22,505, respectively, in Agribank.

Techcombank did not change the rates in the last two days. The bank bought and sold the greenback for VND22,430 and VND22,545, respectively.

The dollar rates in the unofficial market were also 20 dong lower. In Quoc Trinh Jewellery Company in Ha Trung Street, the most popular forex trading point in Ha Noi, the dollar was bought for VND22,590 and sold for VND22,620.

The local gold prices also fell VND70,000 ($3.1) per tael or 1.205 ounce. The Saigon Jewellery Joint Stock Company sold one tael of SJC gold for VND32.88 million ($1,460), while Bao Tin Minh Chau Jewellery and DOJI Jewellery and Gems sold their gold for VND32.86 million ($1,459) and VND32.84 million ($1,458), respectively. In the global market, gold sold for $1,078.4 per ounce or $1,299 per tael. Thus, the price of one tael of gold in Viet Nam was still $161 higher than in the world market. — VNS