The daily reference exchange rate is set at 23,245 VND per USD on February 25 (Photo: VNA)
Hanoi (VNA) - The State Bank of Vietnam set the daily referenceexchange rate at 23,245 VND per USD on February 25, up 2 VND from the previousday.
With the current trading band of +/-3 percent, the ceiling rate applied tocommercial banks during the day is 23,940 VND/USD and the floor rate 22,545VND/USD.
The opening hour rates at most commercial banks saw sharp increases.
At 8:15 am, Vietcombank listed the buying rate at 23,180 VND/USD and theselling rate at 23,250 VND/USD, up 35 VND from February 24.
BIDV added 40 VND to both rates, with the buying rate listed at 23,210 VND/USDand the selling rate at 23,350 VND/USD.
Techcombank also raised both rates by 32 VND, listing the buying rate at 23,192VND/USD and the selling rate at 23,352 VND/USD./.
The State Bank of Vietnam (SBV) aims to again curb the inflation below 4 percent and sustain the monetary market this year, SBV Governor Le Minh Hung told a teleconference of the banking sector in Hanoi on January 2.
The State Bank of Vietnam (SBV) said it will continue coordinating with concerned Vietnamese ministries and agencies to communicate with the US regarding the US Department of Treasury’s latest report on macroeconomic and foreign exchange policies of major trading partners of the US.
After being relatively stable last year, the foreign exchange rate of the Vietnamese dong against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds.
A looser monetary policy should be instituted to support economic growth in the wake of global volatilities, especially the outbreak of the novel coronavirus (nCoV), experts suggested.
The State Bank of Vietnam set the daily reference exchange rate at 23,243 VND per USD on February 24, up 4 VND from the last working day of the previous week (February 21).
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The daily reference exchange rate is set at 23,245 VND per USD on February 25 (Photo: VNA) 
