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Vietnam cuts reference exchange rate

Xinhua News,HANOI
2020-03-05 12:26

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The State Bank of Vietnam on Thursday adjusted its daily reference exchange rate between Vietnamese dong and U.S. dollar down by 1 Vietnamese dong against Wednesday to 23,203 Vietnamese dong per U.S. dollar.

With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,899 Vietnamese dong per U.S. dollar, and the floor rate is 22,507 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

On Thursday, foreign exchange rates at major commercial banks in Vietnam went down against the previous day. Vietcombank lowered both rates by 5 Vietnamese dong to 23,115 Vietnamese dong per U.S. dollar for buying and 23,285 Vietnamese dong per U.S. dollar for selling. Meanwhile, bank for Investment & Development of Vietnam (BIDV) listed its exchange rates at 23,140 Vietnamese dong per U.S. dollar for buying and 23,280 Vietnamese dong per U.S. dollar for selling, both down 10 Vietnamese dong.

This week, the reference exchange rates have seen four downs with total magnitude of 21 Vietnamese dong.
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