Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,898 VND/USD on April 8, increasing 12 VND from April 4.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,143 VND/USD and the floor rate 23,653 VND/USD.
At major commercial banks, the opening-hour rates soared, exceeding 26,000 VND/USD.
At 8:35 am, Vietcombank listed the buying rate at 25,680 VND/USD and the selling rate 26.040 VND/USD, both up 70 VND from April 4 morning.
BIDV also raised both rates by 100 V♔ND, listing the buying rate at 25,690 VND/USD and the selling rate at 26,050 VND/USD./.
According to experts, to minimise exchange rate risks, the SBV should manage the rate flexibly, but not fix or anchor it because Vietnam's economy is deeply integrating towards it becoming a market economy, which requires flexibility.
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