Central bank committed to stabilizing forex market
There will be no adjustment of the foreign exchange (forex) rate at present, according to the State Bank of Vietnam (SBV).
SBV said that forex market shows good liquidity and the demand for dollars has been met.
The bank released the statement after the VND/US$ rates offered by commercial banks increased sharply by VND50-60 to above the VND21,000/US$ mark.
On August 21, some commercial banks raised dollar prices, offering from US$21,060-21,075 for buying and VND21,120-21,140 for selling.
Earlier, the central bank announced on its website that the forex market is becoming stable while the exchange rates at commercial banks and on the free market tend to decrease.
It said it will continue closely monitoring the forex market and take measures to stabilise the market if necessary. Two months ago, the central bank devaluated the Vietnamese dong by 1%.