Thursday Wednesday
Official USD/VND rate: VND20,828 VND20,828
Vietcombank rate: VND20,845-VND20,880 VND20,850-VND20,885
Gold shop rate: VND20,870-VND20,890 VND20,860-VND20,880
By Nguyen Pham Muoi
HANOI--The State Bank of Vietnam set the exchange rate for the U.S.
dollar at VND20,828 Thursday, unchanged from Wednesday.
Currency dealers said rates at major commercial banks led by
Vietcombank were slightly down after the central bank said liquidity
in the interbank market has improved recently. Gold shops raised their
rates due to thin dollar supply in the local market.
For the week ended July 27, the average daily dollar-dong transaction
volume in the interbank market rose to $713 million from $536 million
the previous week and was also up from $542 million in the first week
of July, a dealer with Hanoi-based Vietcombank said, citing data from
the central bank released Wednesday.
"The daily volume has improved because the country posted a trade
surplus of $100 million in July," the dealer noted. He said that as
many local companies have been reporting slow sales of imported goods,
imports aren't expected to rise significantly in August, so demand for
the dollar won't increase in the near term.
Private currency dealers in Hanoi and Ho Chi Minh City said their
rates were slightly up because there is a low supply of the dollar
circulating in the local free market, despite the global price of gold
falling to $1,605 a troy ounce Thursday from $1,615 Wednesday.
Private currency dealers in Vietnam often use the price of gold as a
benchmark to calculate dollar rates.
Write to Nguyen Pham Muoi at phammuoi.nguyen@dowjones.com
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(END) Dow Jones Newswires
August 01, 2012 22:20 ET (02:20 GMT)
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