The forex market saw busy trading as the informal exchange rate on Wednesday rose to VND21,160 for buying and VND21,190 for selling, up VND10-30 against last week. Meanwhile, in the official market, the greenback was quoted at VND20,855 for buying and VND20,860 for selling during the morning. The rate cooled down in the afternoon and stood at VND20,843-20,847 at the end of the day, lower than VND20,960... 

The U.S. dollar firmed against Vietnam dong at local banks and on the informal market on Tuesday, selling for over VND21,000 to hit a two-week high. At some foreign currency exchange counters near Ben Thanh Market, the greenback rose to VND21,150 and VND21,170 for buying and VND21,210 to VND21,230 for selling. A forex trader noticed that the price had surged some VND50-70 a dollar against late last... 

During the last two weeks the domestic foreign exchange market saw continuous fluctuations in the forex rate between the dong and US dollar, although the forex rate on the inter-bank market was stable at VND20,820. In particular, on February 20 the forex rate between the dong and dollar in the open market increased to 21,100 per dollar, up by VND80 compared with the rate on the previous day. Accordingly,... 

Banks are becoming net purchasers of  foreign currencies, creating a good base for the forex market despite exporters’ increased demand for foreign currencies at the year-end. Based on State Bank data, in the final week of September and the first week of October, the exchange rate moved slightly upward as credit institutions actively bought foreign currencies to meet customers’ demand. At the... 

The gold market stays gloomy, while the import-export activities have been quiet, but the dollar prices have been increasing rapidly in recent days. While the interbank dong/dollar exchange rate had been kept stable for the 99th day until April 28, commercial banks have raised the dollar prices continuously since April 26, before the new regulation on banks’ daily foreign currency position takes... 

The State Bank should consider issuing bills or bonds in USD, instead of VND to increase forex reserves or paying off overseas debts and encouraging direct and indirect foreign investment - Vu Thanh Tu Anh – Head of research at the Fulbright Economics  Teaching Programme The State Bank is taking advantage of the country’s stable forex situation to reduce banks’ foreign currency positions... 

Vietnam’s central bank said on Wednesday it will require lenders to reduce the amount of foreign currency they hold at the end of each day beginning in early May, in what bankers said was another attempt to prevent dollar hoarding and control the foreign exchange market. Starting on May 2, banks will have to keep their long foreign exchange position at no more than 20 per cent of their equity... 

The State Bank of Vietnam on Wednesday revised up the inter-bank foreign exchange rate by another VND10 to VND20,813 to the dollar, prompting commercial banks to quickly raise the trading rate to the cap of VND21,021. The adjustment of the inter-bank rate, which has stayed put for over one month, pushed the greenback up by 0.9% against the local currency compared to early September when the central... 

Businesses complain that they cannot buy dollars to import materials for domestic production. This not only make them suffer, but also causes big difficulties to the national economy, because the lack of import materials will make the domestic production stagnant. Saigon Petro cannot buy foreign currencies from banks for the last several years. According to General Director of Saigon Petro Dang Vinh... 

The U.S. dollar prices continued to cool down on Tuesday with the selling price quoted at VND21,250 per dollar at banks and VND21,200 on the free market. The owner of a gold shop in District 1 in HCMC said dollar prices traded through unofficial channels started falling last weekend. Exchange counters around Ben Thanh Market are buying the greenback at VND21,000-21,100 and selling it at VND21,200-21,250...