The US dollar surged 0.26 percent to 19,190 VND on the black market on July 19.
But it remained unchanged against last week in inter-bank trading. Rates at Vietcombank, Asia Commercial Bank (ACB), Eximbank and Sacombank were at 19,090-19,095 VND to the dollar.
Foreign exchange and gold shops on Ha Trung and Tran Nhan Tong streets, Ha Noi, quoted the currency at 19,150-19,190 VND but with few sales.
Asia Commercial Bank, HCM City, deputy general director Nguyen Thanh Toai said a scarcity of dollars for maturing loans could have sparked the black-market purchases.
"The ups and downs are just the nature of any market," he told Vietnam News.
But the bank executive, whose expertise is treasuries, conceded that the buying could have been the result of "rumours that the dollar-supply would fall short."
Central bank statistics last week showed the amount of dollars was sufficient and Vietcombank, Agribank and ACB reported that no change had been signalled.
Trade and Process Foodstuffs Company general director Nguyen Van Tan, reinforced this view. "We are still able to buy the dollar very easily to meet all our demands," he said.
"There is no limit.
"Only those companies that have not managed their business properly or who do not meet bank criteria are having trouble buying the dollar," he said.
"Banks should be strict to ensure financial security." he stressed.
ACB Computer Company general director Nguyen Ba Anh said: "My bank has not refused us but we are required to lodge our request several days in advance when we want to make purchases worth more than 50,000 USD."
Duc Viet Foods Co general director Mai Huy Tan said that if companies had an advanced FX plan for banks, they would not have to accumulate dollars.
"We always need the dollar to import special ingredients and machines from Germany but have never thought to accumulate dollars," he said.
But some anonymous informants told Vietnam News that clients had to pay above the quoted dollar price at some banks and thought the extra fee acceptable.
The foreign-exchange market was stable because Vietnam 's international payments were in surplus and the country had the financial resources and long-term investment inflows to compensate for any balance-of-payment deficit, State Bank of Vietnam senior forecasting and statistics officer Nguyen Huu Nghia said last week.
The balance of payments were a positive 1.64 billion USD in the second quarter and 1.8 billion USD in the first quarter.
People and enterprises should be very cautious about rumours to avoid risks or loss, the central bank official said./.
But it remained unchanged against last week in inter-bank trading. Rates at Vietcombank, Asia Commercial Bank (ACB), Eximbank and Sacombank were at 19,090-19,095 VND to the dollar.
Foreign exchange and gold shops on Ha Trung and Tran Nhan Tong streets, Ha Noi, quoted the currency at 19,150-19,190 VND but with few sales.
Asia Commercial Bank, HCM City, deputy general director Nguyen Thanh Toai said a scarcity of dollars for maturing loans could have sparked the black-market purchases.
"The ups and downs are just the nature of any market," he told Vietnam News.
But the bank executive, whose expertise is treasuries, conceded that the buying could have been the result of "rumours that the dollar-supply would fall short."
Central bank statistics last week showed the amount of dollars was sufficient and Vietcombank, Agribank and ACB reported that no change had been signalled.
Trade and Process Foodstuffs Company general director Nguyen Van Tan, reinforced this view. "We are still able to buy the dollar very easily to meet all our demands," he said.
"There is no limit.
"Only those companies that have not managed their business properly or who do not meet bank criteria are having trouble buying the dollar," he said.
"Banks should be strict to ensure financial security." he stressed.
ACB Computer Company general director Nguyen Ba Anh said: "My bank has not refused us but we are required to lodge our request several days in advance when we want to make purchases worth more than 50,000 USD."
Duc Viet Foods Co general director Mai Huy Tan said that if companies had an advanced FX plan for banks, they would not have to accumulate dollars.
"We always need the dollar to import special ingredients and machines from Germany but have never thought to accumulate dollars," he said.
But some anonymous informants told Vietnam News that clients had to pay above the quoted dollar price at some banks and thought the extra fee acceptable.
The foreign-exchange market was stable because Vietnam 's international payments were in surplus and the country had the financial resources and long-term investment inflows to compensate for any balance-of-payment deficit, State Bank of Vietnam senior forecasting and statistics officer Nguyen Huu Nghia said last week.
The balance of payments were a positive 1.64 billion USD in the second quarter and 1.8 billion USD in the first quarter.
People and enterprises should be very cautious about rumours to avoid risks or loss, the central bank official said./.
