Reference exchange rate continues downward trend from previous week

Hanoi (VNA) - The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,135 VND per USD on November 4, down 3 VND from the last working day of previous week (November 1).

With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,829 VND per USD and the floor rate at 22,440 VND/USD.

The opening hour rates at some commercial banks saw little change.

At 8:15 am, Vietcombank listed the buying rate at 23,115 VND/USD, and the selling rate at 23,265 VND/USD, both down 5 VND from the same time on November 1.

Meanwhile, BIDV kept both rates unchanged, with the buying rate listed at 23,140 VND/USD and the selling rate at 23,260 VND/USD.

Similarly, Techcombank maintained both rates unchanged at 23,131 VND/USD (buying) and the selling rate at 23,271 VND/USD (selling).

During the week from October 28 to November 1, the daily reference exchange rate followed the downward trend throughout the week. The rate ended the week 14 VND lower than at the week’s beginning.

Meanwhile, the rates at commercial banks fluctuated during the week but ended the week mostly down or unchanged from Monday.

On the world market, the USD also dropped to a 10-day low after the FED cut interest rates on October 30 for the third time this year./.