The State Bank of Viet Nam (SBV) has resumed the purchase of US dollars from commercial banks after a six month break thanks to favourable conditions in the country’s foreign exchange market. The dollar is expected to appreciate by 1.5-2 per cent against the dong in 2019.-VNA/VNS Photo On Monday, SBV’s Operations Centre net bought some US$200 million from commercial banks on the inter-bank market in a move to build up the country’s foreign reserve. The purchase followed a recent move by the SBV centre to adjust up its buying rate of the dollar against the dong by VND500 to VND23,200 per dollar, making its rate VND40-65 per dollar higher than that of commercial banks. On Tuesday, commercial banks kept their dollar prices stable. Vietcombank and BIDV posted VND23,155 and VND23,245 per dollar buying and selling rates, unchanged from the previous day. The buying and selling rates at Techcombank were VND23,135 and VND23,245 per dollar, also unchanged from the day before. On Tuesday, SBV set the daily reference exchange rate at VND22,827 per dollar, down VND2 from the previous day. With the current trading band of +/- 3 per cent, commercial banks were allowed to list the dollar at a… Read full this story
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