JavaScript is off. Please enable to view full site.

Vietnam c.bank’s reference VND/USD exchange rate at all-time high

Vietnam c.bank’s reference VND/USD exchange rate at all-time high

Wednesday, April 24, 2019, 16:26 GMT+7
Vietnam c.bank’s reference VND/USD exchange rate at all-time high
A Vietnamese bank employee holds U.S. dollar banknotes in her hands in this photo illustration by Tuoi Tre.

The State Bank of Vietnam on Wednesday set the daily reference exchange rate for the dong at VND23,013 per U.S. dollar, up VND9 from the previous day and reaching the highest rate ever. With the current trading band of three percent, the ceiling rate applied by commercial banks for the day is VND23,703 to the dollar while the floor rate is VND22,322 VND per USD.

Since the start of 2019, the central bank’s reference exchange rate has increased by VND179 per USD, equivalent to a rise of 0.78 percent.

The opening hour rates at commercial banks stayed stable.  As of 8:15 am, both Vietcombank and BIDV listed the buying rate at VND23,165 per USD and the selling rate at VND23,265 per USD, unchanged from Tuesday.

On Tuesday, the daily reference exchange rate passed the VND23,000-per-USD mark for the first time since it was introduced by the central bank in 2015.

The central bank adjusts the reference exchange rate, or mid-point rate, for the dollar/dong on a daily basis in a bid to stabilize the foreign exchange market. Banks are allowed to trade the greenback within +/- 3 percent of the mid-point.

Speaking with Tuoi Tre (Youth) newspaper, representatives from Vietnamese lenders said the recent constant growth reflects the SBV’s goal of bringing the rate up to par with actual trading forex rates on the market.

Supply of foreign currencies in Vietnam remains plentiful as the forex market shows no sign of tension, insiders said.

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

Tuoi Tre News

More

Read more

;

Photos

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.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news