Business

Reference exchange rate falls slightly on March 4

While the central bank cut the daily reference exchange rate on March 4, major commercial banks increased their buying and selling rates for the US dollar.

The daily reference exchange rate for the US dollar is set at 24,755 VND/USD on March 4. (Photo: VNA)
The daily reference exchange rate for the US dollar is set at 24,755 VND/USD on March 4. (Photo: VNA)

Hanoi (VNA) - The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,755 VND/USD on March 4, down 3 VND from the previous day.

With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 25,993 VND/USD and the floor rate 23,517 VND/USD.

At major commercial banks, however, the opening-hour rates saw increases.

At 8:29am, Vietcombank listed the buying rate at 25,420 VND/USD and the selling rate 25,780 VND/USD, both up 50 VND from the March 3 morning session.

BIDV raised both rates by 20 VND, setting its buying and selling rates at 25,390 VND/USD and 25,750 VND/USD, respectively./.

VNA
#reference exchange rate #commercial banks #VND/USD #trading band #State Bank of Vietnam
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