Reference exchange rate goes up 6 VND on June 21Hanoi (VNA) – The State Bank of Vietnam (SBV) adjusted the dailyreference VND/USD exchange rate on June 21 up 6 VND from the previous day to22,428 VND.
With the current trading band of +/- 3 percent, the ceiling rate appliedto commercial banks during the day is 23,100 VND and the floor rate 21,756 VNDper USD.
The rates listed at commercial banks in the opening hour fluctuatedslightly.
While Vietcombank maintained both rates unchanged from June 20 at 22,690VND (buying) and 22,760 VND (selling), BIDV raised its rates by 5 VND to 22,690VND (buying) and 22,760 VND (selling).
The selling rate at Techcombank rose 10 VND to 22,770 VND but the buyingrate stayed the same as on June 20 at 22,650 VND.
The SBV’s transaction office also raised the buying rate for thegreenback by 50 VND to 22,725 VND. This is the third time this year it increasedthe buying rate for USD.
Overall, the VND/USD exchange rate still maintains a stable trend afterthe second interest rate hike by the US’s Fed this year, which is differentfrom the situation in previous year.
The stability was attributable to the policy on proactive response tooutside developments, particularly the management of the exchange rate in theform of the daily reference rate.
Analysts said the decision to increase the buying rate of the greenbackis also a step under the policy, showing the SBV’s intention to expand theforeign reserve, curb the revaluation of the VND and indirectly assistexports.-VNA
VNA
