Reference exchange rate down 18 VND

September 09, 2022 | 16:36

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The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,263 VND/USD on September 9, down 18 VND from the previous day.

Hanoi - The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,263 VND/USD on September 9, down 18 VND from the previous day.

State Bank of Vietnam sets daily reference exchange rate for the US dollar at 23,263 VND/USD on September 9 (Photo: VNA)

With the current trading band of +/-3%, the ceiling rate applicable to commercial banks during the day is 23,960 VND/USD and the floor rate 22,565 VND/USD.

The opening-hour rates at commercial banks increased.

At 8:30am, BIDV listed the buying rate at 23,410 VND/USD and the selling rate at 23,690 VND/USD, both up 20 VND from the end of transactions on September 8.

Vietcombank listed the buying rate at 23,360 VND/USD and the selling rate at 23,670 VND/USD, the same as the closing rates on September 8.

Reference exchange rate up at week’s beginning (July 26)

The State Bank of Vietnam set the daily reference exchange rate at 23,213 VND per USD on July 26, up 4 VND from the last working day of previous week (July 23).

Inflation risks pose questions for exchange rate policy

In response to the recent Fed’s interest rate hike, the State Bank of Vietnam is predicted to tighten its monetary policy in an attempt to curb inflation, with a focus on controlling the exchange rate.

By VNA

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