Vietnam increases reference exchange rate

August 18, 2020
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The State Bank of Vietnam on Monday set the daily reference exchange rate between Vietnamese dong and U.S. dollar at 23,214 Vietnamese dong per U.S. dollar, up two Vietnamese dong from the last adjustment.

With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,910 Vietnamese dong per U.S. dollar, and the floor rate is 22,518 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

On Monday, foreign exchange rates at major commercial banks in Vietnam remained unchanged or went down slightly against the last trading day of previous week. Vietcombank kept its exchange rates at 23,060 Vietnamese dong per U.S. dollar for buying and 23,270 Vietnamese dong per U.S. dollar for selling. Meanwhile, Bank for Investment & Development of Vietnam (BIDV) lowered both rates by 5 Vietnamese dong to 23,085 Vietnamese dong per U.S. dollar for buying and 23,265 Vietnamese dong per U.S. dollar for selling.

Last week, the reference exchange rates saw two ups and two downs with total magnitude of 17 Vietnamese dong and 5 Vietnamese dong, respectively.