Illustrative image (Source: Vietcombank) Hanoi (VNA) – The State Bank of Vietnam set the reference exchange rate at 22,578 VND/USD on May 10, up 10 VND from the previous day. With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,269 VND/USD and the floor rate 21,825 VND/USD. The reference exchange rate has been rising since the beginning of the week (May 7). It went up 6 VND on Monday (May 7), another 6 VND on May 8, and 2 VND on May 9. The opening hour rates at major commercial banks stayed stable, with Vietcombank and BIDV keeping both rates unchanged from May 9, at 22,735 VND/USD (buying) and 22,805 VND/USD (selling). The rates have remained unchanged from May 7 at these two banks. Vietinbank raised both rates by 1 VND, listing the buying rate at 22,738 VND/USD and selling rate at 22,808 VND/USD. Compared to May 7, the rates listed at Vietinbank went up by 3 VND/USD.-VNA … [Read more...] about Reference exchange rate up 10 VND on May 10
Stable exchange rate
Reference exchange rate up by another 2 VND
The daily reference exchange rate on May 9 is adjusted up by another 2 VND to stand at 22,568 VND/USD.(Photo: VNA) Hanoi (VNA) – The daily reference exchange rate on May 9 was adjusted up by another 2 VND from the previous day, standing at 22,568 VND/USD. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,259 VND/USD and the floor rate 21,815 VND/USD. The opening hour rates at major commercial remained stable. Vietcombank and BIDV kept their rates unchanged from May 8, with the buying rate listed at 22,735 VND/USD and selling rate at 22,805 VND/USD. Vietinbank reduced both rates by 1 VND, listing the buying rate at 22,737 VND/USD and the selling rate at 22,807 VND/USD. The reference exchange rate has been on a rising trend from the beginning of the week. It went up 6 VND on Monday (May 7), another 6 VND on May 8 and 2 VND today. However, the rates listed at commercial banks stayed stable with … [Read more...] about Reference exchange rate up by another 2 VND
Reference exchange rate up 17 VND on April 27
The daily reference exchange rate on April 27 is set at 22,539 VND/USD. (Photo: hanoimoi.com.vn) Hanoi (VNA) - The State Bank of Vietnam continued to raise the daily reference exchange rate on April 27, setting it at 22,539 VND/USD, up 17 VND from April 26. With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,232 VND/USD and the floor rate 21,788 VND/USD. Meanwhile, the opening hour rates at major commercial banks stayed stable or dropped slightly. BIDV kept both rates unchanged from April 26, listing the buying rate at 22,735 VND/USD and the selling rate at 22,805 VND/USD. Vietinbank also maintained the same rates as on April 26, at 22,732 VND/USD (buying) and 22,802 VND/USD (selling). Meanwhile, Vietcombank cut both rates by 5 VND, with the buying rate today standing at 22,730 VND/USD and the selling rate at 22,800 VND/USD. The daily reference exchange rate has been on an upward trend this week, rising from … [Read more...] about Reference exchange rate up 17 VND on April 27
Stable interest and exchange rates forecast for 2018
(VEN) - Macroeconomic developments and the impact of the international financial market signal a low probability of lower interest rates in 2018. At the same time, stable exchange rates and a high trade surplus are forecast for the year. Difficulties for lowering interest rates A recent government resolution requires the State Bank of Vietnam (SBV) to strive for lowered interest rates. However, according to economists, this goal can only be achieved with the support of macroeconomic developments and the international financial market. Dr. Tran Du Lich, a member of the Prime Minister’s Economic Advisory Group, said the Vietnamese economy would undergo positive changes in 2018. This assessment is based on an estimated GDP growth of more than 7.1 percent in the first quarter of the year. Regarding interest rate policy, in order to force interest rates down and expand lending, rediscount must be increased, lending activities intensified and inflation controlled. “To some … [Read more...] about Stable interest and exchange rates forecast for 2018
Reference exchange rate kept unchanged on April 12
Illustrative image (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate at 22,477 VND/USD on April 12, unchanged from the previous day. With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,155 VND/USD and the floor rate 21,711 VND/USD. The opening hour rates listed at major commercial banks also stayed stable. Vietcombank and BIDV maintained their rates at the same levels as on April 11, at 22,755 VND/USD (buying) and 22,825 VND/USD (selling). Vietinbank reduced both rates by 2 VND, listing the buying rate at 22,752 VND/USD and selling rate at 22,822 VND/USD.-VNA … [Read more...] about Reference exchange rate kept unchanged on April 12