Vietnam cuts reference exchange rate

December 9, 2020
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The State Bank of Vietnam on Wednesday adjusted its daily reference exchange rate between Vietnamese dong and U.S. dollar down by 4 Vietnamese dong against Tuesday to 23,140 Vietnamese dong per U.S. dollar.

With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,834 Vietnamese dong per U.S. dollar, and the floor rate is 22,446 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

On Wednesday, foreign exchange rates at major commercial banks in Vietnam remained unchanged against the previous trading day. Vietcombank maintained the rates at 23,010 Vietnamese dong per U.S. dollar for buying and 23,220 Vietnamese dong per U.S. dollar for selling. Meanwhile, BIDV listed the rates at 23,040 Vietnamese dong per U.S. dollar for buying and 23,220 Vietnamese dong per U.S. dollar for selling.

This week, the reference exchange rates have seen one up and two downs with total magnitude of 7 Vietnamese dong and 9 Vietnamese dong, respectively.