Dollar rises to nearly 21,000 dong
With the State Bank of Vietnam today increasing the interbank dollar exchange rate for the eighth time this month, the ceiling price at banks rose to VND20,930.
The new interbank rate has been increased by VND15 to VND20,723 a dollar, after rising by VND20 a dollar last weekend.
Most banks began to trade the greenback at VND20,895 to VND20,930.
On the unofficial market, the selling rate remained stable at VND21,370-21,470.
The interbank exchange rate has risen by 0.46 percent since September 7, when the central bank said the depreciation this year would not be more than 1 percent.
Thoi Bao Ngan Hang (Banking Times) newspaper said the central bank sold $150 million in the market in the first week of this month to stabilise the exchange rate.
Reuters said $1.5 billion had been used in three weeks since mid-August to import gold.
Newswire DVT.vn reported that the central bank had pumped in a total of $1.8 billion in the last two months to stabilise the exchange rate.
The Banking Times said the dollar deposit in banks in HCM City was estimated at $6-7 billion, which was adequate to stabilise the rate.
Tuoi Tre - october 20, 2011