Illustrative photo (Source: VNA)

Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate at 22,632 VND/USD on July 9, down 6 VND from the last day of previous week (July 6).

With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,311 VND/USD and the floor rate 21,953 VND/USD.

The rates listed at commercial banks stay stable, with most banks keeping their rates unchanged from July 6.

Vietcombank listed its buying rate at 22,995 VND/USD and the selling rate 23,065 VND/USD, the same as on July 6.

The rates at Techcombank were also the same as on July 6, at 22,980 VND/USD (buying) and 23,090 VND/USD (selling).

Meanwhile, BIDV is buying the green back at 23,000 VND/USD, and selling at 23,070 VND/USD, both down 5 VND from July 6.

In the previous week from July 2-6, the daily reference exchange rate was on the downward trend on the first three days but then went up on Thursday and stayed stable on the last day of the week.

On the contrary, the rates listed at commercial banks increased during the first three days and decreased on Thursday, then went up again on Friday.

SBV Governor Le Minh Hung said recent increase in the foreign exchange rate was predictable as the US Federal Reserve (Fed) pushed up its interest rates and the dollar appreciated in international markets.

Hung stated that the SBV is willing to interfere in the local foreign exchange market if supply-demand problems arise, in order to stabilise the exchange rate and prevent macro-economic risks.

He also reported that the nation’s foreign exchange reserves now stood at approximately 63.5 billion USD.-VNA