Reference exchange rate goes up for fifth consecutive day hinh anh 1The daily reference VND/USD exchange rate is set at 22,433 VND per USD on June 22 (Photo: VNA)

Hanoi (VNA) - The daily reference VND/USD exchange rate rose for the fifth consecutive day on June 22 as the State Bank of Vietnam (SBV) set it at 22,433 VND per USD, up 5 VND compared to the previous day.

With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,105 VND and the floor rate 21,761 VND per USD.

The rates listed at commercial banks in the opening hour were nearly unchanged.

Vietcombank and BIDV maintained both rates unchanged from June 21 at 22,690 VND (buying) and 22,760 VND (selling).
The rates at Techcombank were 22-650 (buying) and 22,770 VND (selling), the same as those on June 21.

The SBV’s transaction office also raised the buying rate for the greenback by 50 VND to 22,725 VND. This is the third time this year it increased the buying rate for USD.

Overall, the VND/USD exchange rate still maintains a stable trend after the second interest rate hike by the US’s Fed this year, which is different from the situation in previous year.

The stability was attributable to the policy on proactive response to outside developments, particularly the management of the exchange rate in the form of the daily reference rate.

Analysts said the decision to increase the buying rate of the greenback is also a step under the policy, showing the SBV’s intention to expand the foreign reserve, curb the revaluation of the VND and indirectly assist exports.-VNA