The State Bank of Vietnam's Central Banking Department on August 7 unexpectedly increased the US dollar price sold to commercial banks by 274 to 21,100 VND after keeping the rate unchanged for the past month.

Inter-bank rate, however, remained stable at 21,036 VND, unchanged since June 28.

For the past week, the central bank has stopped selling dollars, but the market has remained stable.

Dollar prices have been falling continuously, both in the official and unofficial markets. Early this week, some commercial banks continued adjusting down dollar prices, offering from 21,080/21,100 VND for sales and 21,160/ 21,170 VND for buying.

Last month, the central bank had to sell a significant amount of dollars for two weeks to stabilise the forex market when dollar prices rose consecutively and often hit ceiling levels.

Forex rates listed at commercial banks on August 7 also inched up after the SBV's move. Vietcombank listed the greenback selling/buying prices at 21,060/21,130 VND, up 50 VND against the previous day. ACB and Eximbank rates were also up 20-30 VND.-VNA