Reference exchange rate reverses downward trend on October 23
The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,154 VND per USD on October 23, up 6 VND from the previous day (October 22) and reversing the downward trend from the beginning of the week.
The daily reference exchange rate was set at 23,154 VND per USD on October 23 (Photo: VNA)
Hanoi (VNA) - The State Bank of Vietnam (SBV) set the daily referenceexchange rate at 23,154 VND per USD onOctober 23, up 6 VND from the previous day (October 22) and reversing the downward trend from the beginningof the week.
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 from the sametime on October 22.
At 8:15 am, Vietcombank listed the buying rate at 23,115 VND/USD, and the selling rate at 23,265 VND/USD, both down 5 VND from the same time on October 22.
Meanwhile,BIDV kept both rates unchanged, with the buying rate listed at 23,145 VND/USDand the selling rate at 23,265 VND/USD.
Techcombank added 3 VND to both rates, listing the buying rate at 23,137 VND/USD and the selling rate at 23,277 VND/USD./.
With a positive macroeconomic background at the moment, interest rates will basically stay steady until the end of the year due to excessive liquidity and proper credit growth, according to an official from the State Bank of Vietnam (SBV).
Credit has been provided for production and business activities and the priority fields while loans for high-risk areas have been further tightened so far this year, the State Bank of Vietnam (SBV) reported.
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.
The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,153 VND per USD on October 21, down 1 VND from the last working day of previous week (October 18).
The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,148 VND per USD on October 22, down 5 VND from the previous day (October 21).
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According to the State Bank of Vietnam (SBV), in the interbank market, the trend of decreasing overnight interest rates has continued, starting at 3.13% in the first session of last week and gradually decreasing over the sessions to 1.67% at the last session of the week. In total, overnight interest rates decreased by 1.46 percentage points within one week.
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The daily reference exchange rate was set at 23,154 VND per USD on October 23 (Photo: VNA) 
