US dollar cools down hinh anh 1Illustrative image (Photo:infonet)
The price of the US dollar (USD) at commercial banks cooled down on August 27 after tumultuous spikes in the last few days. 

On the same day, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted its USD dollar buying and selling prices at 22,460-22,520 VND. The rates dropped by 40 and 20 VND, respectively compared to the previous day.

The Bank for the Investment and Development of Vietnam (BIDV) set the buying and selling rates at 22,450-22,510 VND per USD while the rates at Vietnam Export Import Commercial Joint Stock Bank (Emximbank) are transacting at 22,430-22,520 per USD, both lowered by 50 to 25 VND from a day earlier.

According to commercial banks, transactions are rebounding to their normal rates after the State Bank of Vietnam (SBV)’s confirmation that it will not change the exchange rate.

General Director of the Industrial and Commercial Bank of Vietnam (Vietinbank) Le Duc Tho said the foreign exchange market is becoming stable and transactions are returning to a suitable rate within the trading band set by the SBV.

Phan Thanh Son, Head of the Treasury and Financial Markets of the Vietnam Technological and Commercial Joint Stock Bank (Techcombank), acknowledged the bank’s transactions are normalising for customers and on the inter-banking market.

He also praised the exchange rate and policy adjustments made by the SBV, saying that such changes have helped consolidate consumer trust and improve the bank’s overall transactions.-VNA