The State Bank of Vietnam (SBV) Operation Centre adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by 90 VND on the morning of December 15.
The SBV Operation Centre adjusted the reference exchange rate between the VND and the USD up by 90 VND on the morning of Dec. 15 (Photo: VNA)
Hanoi (VNA) – The State Bank of Vietnam (SBV) Operatio🍷n Centre adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by 90 VND on the morning of December 15.
The reference buying rate rose from 21,800 VND to 21,890 VND per one USD, and the selling rate, 22,575 VND per one USD.
Accordingly, many commercial banks also raised their selling rate to the ceiling allowed by the SBV and increased the buying rate at the same time.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted its US dollar buying and selling prices at 22,540-22,547 VND while the Bank for Investment and Development of Vietnam (BIDV) is transacting at 22,517-22,547 VND per one USD.
Meanwhile, the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) set the buying and selling rates at 22,460 and 22,547 VND per one USD.
The inter-bank exchange rate between the two currencies set by the SBV is now at 21,890 VND with commercial banks allowed to adjust their rates at an amplitude of +/-3 percent.
With the adjustment, the new selling rate applied at commercial banks has touched the ceiling exchange rate of 22,547 VND per one USD.
The USD price has fluctuated greatly over the past month due to increasing foreign currencies demand towards the end of the year and impact of rumours on the US Federal Reserve (FED)’s possible increase of interest rates.-VNA
Some commercial banks have increased interest rates on Vietnamese dong (VND) deposits between 0.2 percent and 0.4 percent per year, making it the fourth rise since August this year.
The State Bank of Vietnam (SBV) will keep a close watch on the developments of domestic and global macro economies and monetary markets to assure synchronous exchange rate management.
Vietnam's foreign exchange rates fluctuated greatly in the third quarter, influenced by global currency volatility resulting in a negative impact on earnings of many listed companies.
The recent inclusion of the Chinese yuan (CNY) to the reserve currency basket of the International Monetary Fund (IMF) will not have any significant impacts on Vietnam’s economy, experts said.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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The SBV Operation Centre adjusted the reference exchange rate between the VND and the USD up by 90 VND on the morning of Dec. 15 (Photo: VNA)
