State Bank adjusts USD exchange rate

10:52 | 17/12/2015 Economy

The State Bank of Vietnam (SBV) Operation Centre adjusted the reference exchange rate between Vietnamese dong (VND) and USD up by VND90 on December 15.

State Bank adjusts USD exchange rate

The reference buying rate rises from VND21,800 to VND21,890 per US$1

The reference buying rate rose from VND21,800 to VND21,890 per US$1, and the selling rate, VND22,575 per US$1.

Accordingly, many commercial banks also raised their selling rate to the ceiling allowed by the SBV and increased the buying rate at the same time.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted its US dollar buying and selling prices at VND22,540-22,547 while the Bank for Investment and Development of Vietnam (BIDV) is transacting at VND22,517-22,547 per US$1.

Meanwhile, the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) set the buying and selling rates at VND22,460 and VND22,547 per US$1.

The inter-bank exchange rate between the two currencies set by the SBV is now at VND21,890 with commercial banks allowed to adjust their rates at an amplitude of +/-3%.

With the adjustment, the new selling rate at commercial banks has touched the ceiling exchange rate of VND22,547 per US$1.

The USD price has fluctuated greatly over the past month due to increasing foreign currencies demand towards the end of the year and the impact of rumours on the US Federal Reserve (FED)’s possible increase of interest rates./.


Source: NDO