Dollar rates go down in most of the commercial banks on October 16. (Source: vov.v)
Greenback prices fell again in the local market on October 16 while gold prices went up on the same day.
By October 16, most banks sold a dollar at around 22,350 VND and 22,237 VND each while the ceiling price of the State Bank was 22,547 VND per dollar. Compared to the rates in most of the commercial banks on October 13, they were reduced to between 120 to 140 VND each.
In particular, Vietcombank listed the buying and selling rates at 22,270 VND and 22,350 VND. The Techcombank, BIDV and Eximbank set the buying rates between 22,180 VND and 22,260 VND, and the selling rates of each dollar was between 22,360 VND and 22, 380 VND.
Since last week, the greenback reportedly lost after the central bank of Vietnam cut interest rates on dollar deposits and issued a new circular on transacting foreign currencies.
Gold prices, on the other hand, went up 120,000 VND (5.3 USD) per tael in the local market. On October 16, SJC sold a tael, or 37.5gm, of gold for 34.12 million VND (1,527 USD). On the global gold trading website Kitco.com, the price for one ounce of gold was 1,177 USD (1,418 USD per tael).-VNA
