Dollar exchange rate makes new record

The State Bank of Vietnam continued to raise reference exchange rate by VND10 per dollar on May 15 sending the US dollar exchange rate against the Vietnamese dong to a new record high of VND23,064 per dollar.

Dollar exchange rate makes new record

Since the beginning of this year, reference exchange rate has escalated VND236 per dollar, or 1.03 percent. Although reference exchange rate hit a new record, the US dollar prices at commercial banks dropped by VND60-70 per dollar.

BIDV bought dollars at VND23,250 per dollar and sold at VND23,370 per dollar, down VND60 per dollar in both buying and selling prices. Meanwhile, ACB reduced its dollar exchange rate by VND70 per dollar to VND23,250 per dollar for buying and VND23,350 per dollar for selling.
The Vietnam’s stock market extended rising momentum to the fourth day on May 15 as banking shares and blue-chip stocks, including BVH, FPT, GAS, MSN, VNM, VJC, PLX and VRE rallied, marking the highest jump since March 12.
The benchmark bounced 10.3 percent, or 1.07 percent, to close at 975.64 points. The HNX-Index of the smaller bourse in the north also gained 0.74 points, or 0.7 percent, to 106.43 points.

Foreign investors net sold 7.9 million shares worth VND233 billion. Market liquidity nearly reached VND4.8 trillion. 

By Nhung Nguyen – Translated by Thuy Doan

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