The rate offered by Vietcombank and other state-owned banks was steady, while the gold-shop rate fell slightly.
A Hanoi-based dealer said Wednesday that year-on-year inflation is expected to slow to a single-digit figure in May from 10.54% in April, increasing confidence in the dong.
Consumer prices in Ho Chi Minh City rose 7.2% in May from a year earlier while in Hanoi, consumer prices were 7.8% higher from May last year, state media said Monday.
The national consumer price index often moves in tandem with that of the two cities. The General Statistics Office is expected to release the nationwide CPI later this week.
Local media said Wednesday Vietnam will likely have a trade deficit of $700 million in May, compared with a surplus of $3 million in April. In the first five months of the year, the country will likely have a trade deficit of $622 million.
"The trade deficit is expected to rise over the next few months after the government said it will focus on boosting growth for the rest of this year, although the deficit in the first five months will still be far narrower than a deficit of almost $4.9 billion in the same period last year," the dealer said.
Source: Dow Jones