Vietnam central bank depreciates the greenback against the VND

After appreciating the US dollar against the Vietnamese đồng on the first days of this week, the State Bank of Viet Nam on Thursday unexpectedly adjusted the greenback down .

Vietnam central bank depreciates the greenback against the VND
The central bank's daily reference exchange rate on Thursday is listed at VNĐ23,056 per dollar, down VNĐ8 against the previous day.

The SBV on Thursday announced a daily reference exchange rate of VNĐ23,056 per dollar, down VNĐ8 against the previous day.

With the current trading band of +/- 3 per cent, commercial banks can list their ceiling rate at VNĐ23,747 per dollar and the floor rate at VNĐ22,365 per dollar.

The opening hour rates at commercial banks stayed stable. Both Vietcombank and BIDV listed the buying rate at VNĐ23,250 per dollar and the selling rate at VNĐ23,370, unchanged from Wednesday.

 

Techcombank also kept rates unchanged at VNĐ23,230 for buying and VNĐ23,370 for selling.

The daily reference exchange rate topped VNĐ23,000 per dollar on April 23 and has continued to set new highs since then. Analysts at the Bảo Việt Securities Company (BVSC) attributed the strong rise in the reference exchange rate to escalating trade tension between the US and China.

According to the analysts, the trade tension has impacted the exchange rates of many currencies, including the đồng. They said the SBV has the option of selling US dollars to keep the exchange rate stable. — VNS

 
 
 
 
 
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