Vietnam State Treasury to buy $100mn in 3rd foreign currency purchase this year
Vietnam State Treasury to buy $100mn in 3rd foreign currency purchase this year
The Vietnam State Treasury has announced that it will purchase US$100 million, with the transaction scheduled for settlement on Monday next week.
Stacks of U.S. dollars are seen at a counter inside a bank in Ho Chi Minh City. Photo: Quang Dinh / Tuoi Tre |
The announcement specified that the purchase transaction will be conducted on a “spot delivery” basis.
Previously, the State Treasury had acquired foreign currency from commercial banks twice this year, totaling $250 million.
This third foreign currency purchase by the State Treasury takes place amidst a depreciation of the U.S. dollar against the Vietnamese dong.
On Thursday, the State Bank announced the central exchange rate of VND24,187 per U.S. dollar, a decrease of VND25 from the previous day.
For the interbank market, the U.S. dollar buying price and selling price were typically listed at VNS24,380 and VND24,750, respectively.
This represents a significant decrease compared to April and May, when the greenback had appreciated by about five percent.
The decision by the State Treasury came as the greenback weakened following the Federal Reserve’s clearer indication of interest rate cuts this month.
