BIDV injects US dollars in domestic market

US$ 13 million on July 9 was distributed as foreign currency assistance to domestic banks by the Bank for Investment and Development of Viet Nam (BIDV) through the inter-bank market.

BIDV’s Vice General Director Hoang Huy Ha says that the bank has not only satisfied the foreign currency demand of its customers but also helped other banks to ensure their business.

BIDV on July 8 also pledged not to sell US dollars at a price higher than that regulated by the State Bank.

As a result, on July 9, one US dollar cost VND 16,521; hence, banks can sell at VND 16,851, 2% higher than the listed price.

BIDV’s move has helped stabilise the foreign currency market. The exchange rate of the US dollar on July 9 dropped by VND 200 compared to that of the previous day. (TBKTSG)