JavaScript is off. Please enable to view full site.

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

Saturday, September 14, 2024, 17:58 GMT+7
Vietnam State Treasury to buy $100mn in 3rd foreign currency purchase this year
Stacks of U.S. dollars are seen at a counter inside a bank in Ho Chi Minh City. Photo: Quang Dinh / Tuoi Tre

The Vietnam State Treasury has announced that it will purchase US$100 million, with the transaction scheduled for settlement on Monday next week.

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.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News

More

Read more

;

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Latest news