Central bank poised to raise currency reserves

The rate gap between the unofficial market and commercial banks is almost insignificant. — Reuters

HANOI: Based on the cooling exchange rate, the State Bank of Vietnam (SBV) may increase the US dollar buying price at the SBV’s Central Banking Department (CBD) to supplement the country’s foreign-exchange reserves, analysts say.

In a recent report, analysts from the Saigon Securities Incorporation (SSI) said the selling rate at the CBD currently decreased by about 100 to 25,362 dong, while the buying rate remained unchanged at 23,400 dong per dollar.