Vietnam & World Forex Market News

He said, at present, the government does not have any plans to adjust the forex rate between dong and other foreign currencies. The central bank can ensure the balance between supply and demand in the market. Thus, rumours about the shortage of US dollars in the market or that the government would increase the price of US dollar is absolutely wrong.

The Bank for Foreign Trade of Vietnam\'s (Vietcombank-VCB) general director, Nguyen Phuoc Thanh also said that his bank has enough capacity for meeting customers\' essential demands on foreign currency.

On February 24, the dong/US dollar forex rate increased again after a slight decrease on the previous day. In the free market, the dong/US dollar forex rate jumped to 17,670 dong/US dollar (as buying) and 17,720 dong/US dollar (as selling). On late yesterday February 24, the forex rate continued climbing to 17,680-17,730 dong per US dollar (buying-selling price), rising 80 dong per US dollar against February 23. With this, it is very likely that the forex rate would re-establish the threshold of 17,900 dong per US dollar.

Meanwhile, in the interbank market, the dong/US dollar forex was adjusted down. The forex rate fixed by the central bank on February 24 was 16,971 dong per US dollar, down one dong per US dollar from previous day.

At Vietcombank, the buying and selling price was quoted at 17,480 dong per US dollar, dropping one dong/US dollar from February 23.
Financers said that inhabitants should not hoard foreign currency to prevent speculations.