The State Bank of Vietnam (SBV)’s selling and purchasing prices were officially set at 21,350 VND and 21,600 VND to one US dollar on January 12, up 150 VND and 200 VND respectively.

The move was made in an effort to slow the exchange rate’s decline after the inter-bank rate was raised by 1 percent on January 7, as well as to support exports.

In response to the State Bank's fixed rate, selling prices are ranging from 21,300 VND to 21,320 VND, with purchasing prices between 21,380 VND - 21,385 VND, to one US dollar at commercial banks such as Techcombank and Vietcombank.

The State Bank is prepared to buy and sell US dollar in a bid to stabilise the foreign exchange market.-VNA