Interbank dollar peaks VND20,738

The interbank exchange rate rose the tenth consecutive time, adding up VND5 per dollar to VND20,738 per dollar on October 20.

Up to now, the rate has surged VND110 per dollar, or 0.54 percent. The ceiling price applied at commercial banks was VND20,945 per dollar.

Vietcombank and Vietinbank bought dollars at VND20,940 per dollar, and sold at VND20,945 per dollar, up VND5 per dollar over the previous day.

At Asia Commercial Bank, the greenback was bought at VND20,923 and sold at VND20,945.

Eximbank quoted the rate at VND20,925 for buying and VND20,945 for selling.

Both BIDV and Sacombank purchased the US currency at VND20,930, and sold at VND20,945.

On free market, the greenback was bought at VND21,500, and sold at VND21,550, an increase of VND50 per dollar over the previous day.

A tension in exchange rate caused many firms to buy bank dollars at a price VND100-200 per dollar higher than black market dollars. Some experts said that banks might expect that the central bank will allow gold import, so they collected dollars in advance, causing more stiffness to the exchange rate.

In Hanoi, some banks were offering firms a price of VND21,680-21,700 this morning.

By T.H – Translated by Thuy Doan

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