The US dollar surged 0.26 percent to 19,190 VND on the black marketon July 19.
But it remained unchanged against lastweek in inter-bank trading. Rates at Vietcombank, AsiaCommercial Bank (ACB), Eximbank and Sacombank were at 19,090-19,095 VNDto the dollar.
Foreign exchange and gold shops onHa Trung and Tran Nhan Tong streets, Ha Noi, quoted the currency at19,150-19,190 VND but with few sales.
Asia Commercial Bank,HCM City, deputy general director Nguyen Thanh Toai said a scarcityof dollars for maturing loans could have sparked the black-marketpurchases.
"The ups and downs are just the nature ofany market," he told Vietnam News.
But the bank executive,whose expertise is treasuries, conceded that the buying could have beenthe result of "rumours that the dollar-supply would fall short."
Central bank statistics last week showed the amount ofdollars was sufficient and Vietcombank, Agribank and ACB reported thatno change had been signalled.
Trade and ProcessFoodstuffs Company general director Nguyen Van Tan, reinforced thisview. "We are still able to buy the dollar very easily to meet all ourdemands," he said.
"There is no limit.
"Only those companies that have not managed their business properly orwho do not meet bank criteria are having trouble buying the dollar," hesaid.
"Banks should be strict to ensure financialsecurity." he stressed.
ACB Computer Company generaldirector Nguyen Ba Anh said: "My bank has not refused us but we arerequired to lodge our request several days in advance when we want tomake purchases worth more than 50,000 USD."
Duc Viet Foods Cogeneral director Mai Huy Tan said that if companies had an advanced FXplan for banks, they would not have to accumulate dollars.
"Wealways need the dollar to import special ingredients and machines fromGermany but have never thought to accumulate dollars," he said.
But some anonymous informants told Vietnam News thatclients had to pay above the quoted dollar price at some banks andthought the extra fee acceptable.
Theforeign-exchange market was stable because Vietnam 's internationalpayments were in surplus and the country had the financial resources andlong-term investment inflows to compensate for any balance-of-paymentdeficit, State Bank of Vietnam senior forecasting and statisticsofficer Nguyen Huu Nghia said last week.
The balanceof payments were a positive 1.64 billion USD in the second quarter and1.8 billion USD in the first quarter.
People andenterprises should be very cautious about rumours to avoid risks orloss, the central bank official said./.
But it remained unchanged against lastweek in inter-bank trading. Rates at Vietcombank, AsiaCommercial Bank (ACB), Eximbank and Sacombank were at 19,090-19,095 VNDto the dollar.
Foreign exchange and gold shops onHa Trung and Tran Nhan Tong streets, Ha Noi, quoted the currency at19,150-19,190 VND but with few sales.
Asia Commercial Bank,HCM City, deputy general director Nguyen Thanh Toai said a scarcityof dollars for maturing loans could have sparked the black-marketpurchases.
"The ups and downs are just the nature ofany market," he told Vietnam News.
But the bank executive,whose expertise is treasuries, conceded that the buying could have beenthe result of "rumours that the dollar-supply would fall short."
Central bank statistics last week showed the amount ofdollars was sufficient and Vietcombank, Agribank and ACB reported thatno change had been signalled.
Trade and ProcessFoodstuffs Company general director Nguyen Van Tan, reinforced thisview. "We are still able to buy the dollar very easily to meet all ourdemands," he said.
"There is no limit.
"Only those companies that have not managed their business properly orwho do not meet bank criteria are having trouble buying the dollar," hesaid.
"Banks should be strict to ensure financialsecurity." he stressed.
ACB Computer Company generaldirector Nguyen Ba Anh said: "My bank has not refused us but we arerequired to lodge our request several days in advance when we want tomake purchases worth more than 50,000 USD."
Duc Viet Foods Cogeneral director Mai Huy Tan said that if companies had an advanced FXplan for banks, they would not have to accumulate dollars.
"Wealways need the dollar to import special ingredients and machines fromGermany but have never thought to accumulate dollars," he said.
But some anonymous informants told Vietnam News thatclients had to pay above the quoted dollar price at some banks andthought the extra fee acceptable.
Theforeign-exchange market was stable because Vietnam 's internationalpayments were in surplus and the country had the financial resources andlong-term investment inflows to compensate for any balance-of-paymentdeficit, State Bank of Vietnam senior forecasting and statisticsofficer Nguyen Huu Nghia said last week.
The balanceof payments were a positive 1.64 billion USD in the second quarter and1.8 billion USD in the first quarter.
People andenterprises should be very cautious about rumours to avoid risks orloss, the central bank official said./.
