The VND has continued to peak against the US dollar since the foreign exchange trading band was widened to plus-or-minus 5 percent.

The interbank rate on Sept. 14 was 16,984 VND to the dollar, only 5 VND below the previous record set back on December 25 when the trading band was loosened to plus-or-minus 3 percent.

Vietcombank, meanwhile, continued to list its public buy/sell prices for USD at 17,833 VND, while Sacombank was quoting rates of 17,831/17.833 VND.

The General Statistics Office has reported that the dollar rose 8.95 percent in August compared to the same month a year ago.

“A more expensive dollar would help stimulate exports, as well as reflect exports, as well as reflect the increasing demand for greenbacks from commercial banks,” said an economist affiliated with an NGO, who asked to have his name withheld.

This economist said that a higher dollar price would help reduce the pressure of dollar demand on the market but could cause further speculation.

State Bank of Vietnam date showed that banking activities in foreign currency were stable last week. State-owned banks were offering short-term loans in US dollar at interest rates of 3.5 to 4 percent a year, rates at private commercial banks were 4-6 percent./.