The price of the US dollar (USD) at commercial banks cooled down on August 27 after tumultuous spikes in the last few days.
On the same day, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted its USD dollar buying and selling prices at 22,460-22,520 VND. The rates dropped by 40 and 20 VND, respectively compared to the previous day.
The Bank for the Investment and Development of Vietnam (BIDV) set the buying and selling rates at 22,450-22,510 VND per USD while the rates at Vietnam Export Import Commercial Joint Stock Bank (Emximbank) are transacting at 22,430-22,520 per USD, both lowered by 50 to 25 VND from a day earlier.
According to commercial banks, transactions are rebounding to their normal rates after the State Bank of Vietnam (SBV)’s confirmation that it will not change the exchange rate.
General Director of the Industrial and Commercial Bank of Vietnam (Vietinbank) Le Duc Tho said the foreign exchange market is becoming stable and transactions are returning to a suitable rate within the trading band set by the SBV.
Phan Thanh Son, Head of the Treasury and Financial Markets of the Vietnam Technological and Commercial Joint Stock Bank (Techcombank), acknowledged the bank’s transactions are normalising for customers and on the inter-banking market.
He also praised the exchange rate and policy adjustments made by the SBV, saying that such changes have helped consolidate consumer trust and improve the bank’s overall transactions.-VNA
The country's foreign exchange reserves excluding gold have been increasing continuously, reaching 37 billion USD by the end of July, Governor of the State Bank of Vietnam Nguyen Van Binh said.
The State Bank of Vietnam (SBV) has widened the trading band of Vietnamese dong/ US dollar (VND/USD) from +/- 1 percent to +/-2 percent, applicable from August 12 onwards.
The State Bank of Vietnam (SBV) has increased the average inter-bank exchange rate between the VND and USD applicable to August 19 by 1 percent, from 21,673 VND to 21,890 VND per one USD.
Commercial banks altogether spiked the US dollar price after the State Bank of Vietnam (SBV) increased the average inter-bank exchange rate between the Vietnamese dong (VND) and the USD.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Illustrative image (Photo:infonet)
