Hanoi (VNA) - The State Bank of Vietnam set thedaily reference exchange rate at 23,918 VND/USD on August 16, up 37 VND fromthe previous day.
With the current trading band of +/- 5%, theceiling rate applicable for commercial banks during the day is 25,113 VND/USDand the floor rate 22,772 VND/USD.
The daily reference exchange rate has been continuouslyadjusted up over recent days. It gained 22 VND during the week from August7-11. From the beginning of this week (August 14) it has increased by a total81 VND.
At commercial banks, the opening-hour rates wentin different directions.
At 8:15 am, BIDV listed the rates at 23,815VND/USD (buying) and 24,115 VND/USD (selling), both down 15 VND from the end ofAugust 15.
Meanwhile, Vietcombank added 5 VND to both rates,listing at 23,775 VND/USD (buying) and 24,145 VND/USD (selling)./.
The State Bank of Vietnam set the daily reference exchange rate at 23,848 VND/USD on August 14, up 11 VND from the last day of the previous week (August 11).
Despite the difference in policies of the State Bank of Vietnam (SBV) and the US Federal Reserve (Fed), the USD/VND exchange rate has remained stable to date thanks to a trade surplus and a bright economic outlook of Vietnam in the second half of 2023, experts said.
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Illustrative image (Photo: VNA) 
