Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchangerate at 22,632 VND/USD on July 9, down 6 VND from the last day of previous week(July 6).
With the current trading band of +/- 3 percent, the ceiling rate appliedto commercial banks during the day is 23,311 VND/USD and the floor rate 21,953VND/USD.
The rates listed at commercial banks stay stable, with most bankskeeping their rates unchanged from July 6.
Vietcombank listed its buying rate at 22,995 VND/USD and the sellingrate 23,065 VND/USD, the same as on July 6.
The rates at Techcombank were also the same as on July 6, at 22,980VND/USD (buying) and 23,090 VND/USD (selling).
Meanwhile, BIDV is buying the green back at 23,000 VND/USD, and sellingat 23,070 VND/USD, both down 5 VND from July 6.
In the previous week from July 2-6, the daily reference exchange ratewas on the downward trend on the first three days but then went up on Thursdayand stayed stable on the last day of the week.
On the contrary, the rates listed at commercial banks increased duringthe first three days and decreased on Thursday, then went up again on Friday.
SBV Governor Le Minh Hung said recent increase in the foreign exchangerate was predictable as the US Federal Reserve (Fed) pushed up its interestrates and the dollar appreciated in international markets.
Hung stated that the SBV is willing to interfere in the local foreignexchange market if supply-demand problems arise, in order to stabilise theexchange rate and prevent macro-economic risks.
He also reported that the nation’s foreign exchange reserves now stoodat approximately 63.5 billion USD.-VNA
The daily reference exchange rate turned around to go up 8 VND on July 5, being set at 22,638 VND per USD, reversing the downward trend since the beginning of the week.
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Illustrative photo (Source: VNA) 
