Vietnam Central Bank May Pump U.S. Dollars Soon
The State Bank of Vietnam, the country’s central bank, plans to pump a certain amount of U.S. dollar through commercial banks in order to meet demand of firms engaged in importing essential goods.
The online newspaper did not specify the exact date and how much U.S. dollar the central bank would supply for the local banking system, but it said the injection will come in upcoming days.
Some local banks have made application for urgent supply of foreign currencies from the central bank and received positive signal, the newspaper cited a SBV source as saying.
The source also affirmed that “there is absolutely no ability to adjust the dollar exchange rates in the short term” and recent dollar price hikes mostly stemmed from speculation among local traders.
U.S. dollar has been slowdown at VND20,150 in Vietnam’s unofficial market early this morning, compared to around VND19,970 late last week as businesses are seeking to hold on to the greenback for fear of foreign exchange risk.
Vietcombank, the country’s largest forex trader, today kept the rate unchanged at VND19,490/VND19,500 while some others including Vietinbank and Eximbank have adjusted the rate up to the maximum limit of the daily trading band. (VnExpress)
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