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Xinhua Silk Road
Economy

Vietnam lowers reference exchange rate

April 09, 2018


Abstract : Vietnam's central bank on Monday decreased its reference exchange rate between Vietnamese dong and U.S. dollar by 2 Vietnamese dong to 22,475 Vietnamese dong per U.S. dollar.

越南货币

HANOI, April 9 (Xinhua) -- Vietnam's central bank on Monday decreased its reference exchange rate between Vietnamese dong and U.S. dollar by 2 Vietnamese dong to 22,475 Vietnamese dong per U.S. dollar.

With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,153 Vietnamese dong per U.S. dollar, and the floor rate is 21,709 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

Big commercial banks in Vietnam adjusted their listed exchanges rates differently on Tuesday. Rates at Vietcombank and BIDV went down by 15 and 5 Vietnamese dong per U.S. dollar, respectively.

Meanwhile, Vietinbank bought the green back at 22,764 Vietnamese dong per U.S. dollar, up 10 Vietnamese dong, and sold at 22,834 Vietnamese dong per U.S. dollar, unchanged from the last trading day.

Last week, the central bank raised its reference exchange rates for three consecutive days starting from Wednesday. According to Vietnam's National Financial Supervisory Commission, the central exchange rate in late 2017 rose 1.6 percent against early 2017, while the average rate offered by commercial banks decreased 0.2 percent, and on the free market dropped some 1.5 percent.

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Keyword: foreign-exchange Vietnam-economy

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