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SBV continues to raise dollar sale price

Update: July, 24/2018 - 15:00
SBV on Tuesday continued to increase the sale price of the US dollar for commercial banks by VNĐ11 to VNĐ23,284. — Photo lienvietpostbank.vn
Viet Nam News

HÀ NỘI — The State Bank of Việt Nam’s Operation Centre on Tuesday increased the sale price of the US dollar for commercial banks by VNĐ11 to VNĐ23,284.

It was the second consecutive session the centre had lifted the price after keeping it steady for the past three weeks. On Monday, the centre raised the price from VNĐ23,050 to VNĐ23,273 per dollar, ceasing its intervention to stabilise the local exchange rate by selling the greenback to commercial banks at a cheap price of VNĐ23,050 per dollar.

Phạm Thanh Hà, director of the SBV’s Monetary Policy Department, said that the SBV’s revision to raise the selling price this week was suitable for domestic and foreign markets. 

According to Hà, after the SBV slashed the dollar selling price to VNĐ23,050 on July 3, the exchange rate became relatively stable, mainly around VNĐ23,040 – 23,050 per dollar. 

The revision was aimed at better aligning the exchange rate with movements in the domestic and global markets. It was also meant to show that the SBV was ready to support the market with a reasonable exchange rate, Hà noted. 

The SBV would continue to adjust the exchange rate in a flexible manner and in accordance with domestic and foreign markets, Hà said, adding that it would also make use of other tools and be ready to sell the dollar when necessary to stabilise the forex market.

On Tuesday, the central bank’s daily reference exchange rate – which regulates the ceiling and floor trading prices for commercial banks during the day – were also adjusted up by VNĐ10 against Monday to VNĐ22,654  per dollar. 

With the current trading band of +/- 3 per cent, the ceiling rate applied to commercial banks during the day is VNĐ23,333 per dollar and the floor rate VNĐ21,975. 

On Tuesday, the opening hour rates at commercial banks saw mixed changes from the previous day. 

While Vietcombank kept its rates unchanged, BIDV raised both rates by VNĐ10  and Techcombank adjusted both rates down VNĐ10. 

The greenback is being bought at VNĐ23,180 per dollar and sold at VNĐ23,250 at both Vietcombank and BIDV. 

The rates listed at Techcombank stood at VNĐ23,160  for buying and VNĐ23,270 for selling. — VNS 

 

 

 

 

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