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Exchange rate tops VND21,000 a dollar
Following the 14th increase so far this month of the interbank dollar exchange rate, the ceiling price of the dollar at banks today surpassed the VND21,000 mark.
The State Bank of Vietnam today increased the interbank rate by VND15 to VND20,803 a dollar, sending banks’ ceiling price to VND21,011 a dollar.
The interbank exchange rate has risen by VND175, or 0.85 percent since September 7 when the central bank said the depreciation would not be more than 1 percent this year.
The dollar price on the black market has recently slumped after the government increased the maximum fine on illegal trading of foreign currencies to VND500 million from VND70 million.
The greenback yesterday fell by VND250 to VND21,500.
Meanwhile, gold in Vietnam this morning rose by VND700,000 compared with yesterday closing to over VND45.5 million a tael (37.5 grams), the highest level since September 27.
It was sold at VND45.55 million a tael in Hanoi and VND45.6 million a tael in Ho Chi Minh City.
According to Kitco, spot gold was quoted at US$1,745.4 an ounce at 10 am today.
With the official exchange rate, the gap between domestic and global prices was VND1.3 million a tael.
With the black market rate, the gap was VND300,000 a tael.
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