Illustrative image (Source: VNA)
 
Hanoi (VNA) – The State Bank of Vietnam adjusted its reference VND/USD exchange rate down by 1 VND from July 11 to 22,448 VND/USD on July 12.

With the current /- 3 percent VND/USD trading band, the ceiling exchange rate is 23,113 VND per USD and the floor rate is 21,769 VND per USD.

Major commercial banks made a sharp cut to their rates at the opening hours.

Vietcombank offered 22,695 VND (buying) and 22,765 VND (selling), per USD, down 20 VND from the day ago.

BIDV cut both rates by 15 VND, offering 22,705 VND (buying) and 22,775 VND (selling), per USD.

Vietinbank posted its buying rate at 22,690 VND and its selling rate at 22,770 VND, unchanged from the day before.-VNA