Vietnam increases reference exchange rate

41841e9bbe75fc7420ec148049cfd212

HANOI: The State Bank of Vietnam on Monday (May 25) set the daily reference exchange rate between Vietnamese dong and US dollar at 23,257 Vietnamese dong per US dollar, up 15 Vietnamese dong against the last working day of the previous week.

With the current trading band of plus or minus 3 per cent, the ceiling exchange rate is 23,955 Vietnamese dong per US dollar, and the floor rate is 22,559 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

On Monday, foreign exchange rates at major commercial banks in Vietnam went up slightly against the last adjustment. Vietcombank raised the rates by 40 Vietnamese dong to 23,190 Vietnamese dong per US dollar for buying and 23,400 Vietnamese dong per US dollar for selling.

Meanwhile, bank for Investment & Development of Vietnam (BIDV) listed the rates at 23,220 Vietnamese dong per US dollar for buying and 23,400 Vietnamese dong per U.S. dollar for selling, both up 40 Vietnamese dong.

Last week, the reference exchange rates saw one up and four downs with total magnitude of 2 Vietnamese dong and 23 Vietnamese dong, respectively. - Xinhua/Asian News Network