The central bank will maintain the current inter-bank average exchange rate, according to Vice Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong.

Despite an increased exchange rate during the first few days of October, the real rate on the inter-bank market is lower than the maximum level fixed by the SBV, Hong said in a press release issued on October 6.

Since the bank increased the VND/USD exchange rate by one percent in June, the foreign currency market reported positive developments. By the end of September, the inter-bank exchange rate only increased by 0.5 percent compared to the exchange rates of late 2013.

The SBV said the foreign exchange market was stable and reported a surplus in the balance of payments for September and the past nine months, worth approximately 11 billion USD.

In the near future, the SBV will continue to operate a flexible monetary policy to ensure the stability of the currency and foreign exchange markets, as well as the exchange rate, Hong stated.

The bank will also implement the necessary measures to regulate its available capital, stabilise the exchange rates and the operating interest rates, and maintain the stability of the bank’s policy.-VNA