The State Bank of Vietnam on Feb. 11 raised the interbank exchange rate to 20,693 VND per 1 USD and narrowed the trading band to 1 percent from 3 percent at present, on either side of the rate.

The changes are applied the same day.

The SBV said that the new measures will help to manage the exchange rate more flexibly, increase the market’s liquidity, curb the trade deficit and assist the flexible implementation of the monetary policy./.