Vietnam Daily News

December 9: Vietnam Central Bank Keeps Dollar Exchange at 20,803 dong for 6 Weeks

Written by Dailynews.vn Saturday, 10 December 2011 19:16

Vietnam's central bank set the US dollar's exchange rate at VND20,803 on Friday, unchanged for 6 weeks. This is the longest exchange rate stabilisation from year-to-date.

Commercial banks are allowed to apply effective exchange rate +-1 percent from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,011.

Commercial banks kept their quoted prices unchanged, selling dollar at the ceiling VND21,011 and buying dollar at VND20,990- 21,010.

Dollar prices in the free market was slightly up this morning. A gold shop in Hanoi was quoted at VND21,125-VND21,160, up VND25-10 for bid and ask, respectively from yesterday.

Dollar prices are forecasted to rise to VND21,400 in the first and second quarter of 2012 and may reach VND22,000 in the last 2 quarter of the year, said ai Hui, director of Economic Research for Southeast Asia, Standard Chartered Bank.

Source: www.intellasia.net/news/articles/finance/111350324.shtml