Banks reduce dollar prices
Banks reduce dollar prices
The US dollar prices fell in many banks on Thursday morning after staying almost unchanged for a long time, news website gafin.vn reported.
Vietcombank adjusted the buying and selling prices of a dollar to VND21,270 and 21,340, respectively, down 30 dong over the previous day.
ACB lowered the prices by 20 dong to VND21,250 and VND21,320, respectively, and Vietinbank reduced the prices by the same margin, to VND21,270 and VND21,350 respectively. At BIDV, the prices were reduced by 10 dong to VND21,280 and VND21,340 respectively.
Techcombank reduced the dollar buying and selling rates by 20 dong and 30 dong to VND21,250 and VND21,335 respectively. DongA Bank slashed the rates by 20 dong and 10 dong, listing the prices at VND21,280 and VND21,325 respectively.
In an economic report for the first half of the year, National Financial Supervisory Commission researchers said that, "the liquidity of foreign currencies is feeling certain pressure."
In the first five months, regarding foreign currencies, banks saw deposits decrease by 5.5 per cent and lending increase by 7 per cent. The loan-to-deposit ratio (LDR) rose to 95.5 per cent in May from 84.3 per cent at the end of last year.
The dollar interest rates on the inter-bank market increased from 0.3 per cent to about 0.4 per cent per year at the beginning of April, and tended to see more fluctuations.
Contrary to these developments, the liquidity of the dong remained substantial as outstanding loans grew more slowly than deposits. The LDR for the domestic currency fell from 82.4 per cent at the end of last year to 79 per cent this May.
Lending in dong increased by 1.1 per cent in the first five months, just about half the level recorded in the same period last year.
The State Bank of Viet Nam on June 19 raised the Vietnamese dong/US dollar interbank exchange rate by one per cent, from VND21,036 to VND21,246 per dollar, to help improve the macro-economic balance and support economic growth.
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