Reference exchange rate goes up 11 VND

Illustrative photo (Photo: VNA)

Hanoi (VNA) – The State Bank set the reference VND/USD exchange rate at 22,112 VND per USD on November 18, showing a rise of 11 VND from the previous day and the eighth consecutive rise with 87 VND in total.

With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 22,775 VND per USD and the floor rate is 21,449 VND per USD. 

In the opening hour, Vietcombank listed the buying rate at 22,400 VND per USD and the selling rate at 22,470 VND per USD, up 5 VND from November 17. The bank adjusted its rates up 95 VND in total from the beginning of this week. 

Rates were listed 22,440 – 22,520 VND/USD at Eximbank, up 40 VND from the day ago. The rates rose by 145 VND in total from the beginning of this week.

In Techcombank, the rates were listed 22,390 – 22,500 VND/USD, unchanged from the day ago, but rising up 100 VND in the buying rate and 110 VND in the selling rate. 

BIDV offered the buying rate at 22,460 VND per USD and the selling rate at 22,530 per USD, up 50 VND from the day before. The price of the greenback rose up 160 VND in both rates since November 14.

The forex market experienced a strong fluctuation when the central bank raised its reference rate and commercial banks also made surges in their buying and selling rates.

The State Bank of Vietnam affirmed that from now to the end of this year, the supply and demand of currencies will be smooth, supported by the disbursement of foreign direct investment capital, capital from mergers and acquisitions, and remittances.-VNA