The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,154 VND per USD on October 18, down 5 VND from the previous day (October 17).
The daily reference exchange rate was set at 23,154 VND per USD on October 18 (Photo: VNA)
Hanoi (VNA) - The State Bank of Vietnam (SBV) set the daily referenceexchange rate at 23,154 VND per USD onOctober 18, down 5 VND from the previous day (October 17).
With the current trading band of +/- 3percent, the ceiling rate applied to commercial banks during the day is 23,848 VND per USD and the floor rate at 22,459 VND/USD.
The opening hour rates at some commercialbanks fluctuated variably.
At 8:15 am, Vietcombank listed the buying rate at 23,115 VND/USD, and the selling rate at 23,265 VND/USD, both up 5 VND from the same time on October 17.
Meanwhile, BIDV kept both rates unchanged, with the buying rate listed at 23,145 VND/USD and the selling rate at 23,265 VND/USD.
On the contrary, Techcombank reduced both rates by 4 VND, listing the buying rate at 23,135 VND/USD and the selling rate at 23,275 VND/USD.
During the week from October 14 to 18, the dailyreference exchange rate was adjusted down on thefirst day and unchanged on Tuesday before going up on the next two days. The trend reversed again on Friday,resulting in the rate ending the week 4 VND higher than on Monday.
Therates listed at commercial banks also changed in different directions butending the week mostly up compared to the beginning ofthe week./.
The State Bank of Vietnam (SBV) will hold its benchmark refinancing and discount rates at 6.25 percent and 4.25 percent, respectively, in addition to maintaining its 14 percent credit growth target for the remainder of 2019, experts forecast.
The State Bank of Vietnam (SBV)'s exchange rate management policy has been appropriate and effective, creating benefits for the economy and confidence for the market.
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The daily reference exchange rate was set at 23,154 VND per USD on October 18 (Photo: VNA) 
