Reference exchange rate down strongly at week’s beginning
The daily reference exchange rate was revised down strongly at the beginning of the first week of July, being set at 23,054 VND per USD on July 1, down 12 VND from the last working day of previous week (June 28).
The daily reference exchange rate was set at 23,054 VND per USD on July 1 (Photo: VNA)
Hanoi (VNA) - The dailyreference exchange rate was revised down strongly at the beginning of the firstweek of July, being set at 23,054 VND per USD on July 1, down 12 VND from thelast working day of previous week (June 28).
With the current tradingband of +/- 3 percent, the ceiling rate applied to commercial banks during theday is 23,745 VND per USD and the floor rate at 22,362 VND/USD.
The opening hour rates at commercialbanks also saw big decreases.
At 8:15 am, Vietcombank listedthe buying rate at 23,250 VND/USD and the selling rate at 23,370 VND/USD, bothdown 25 VND from the same time on June 28.
The rates at BIDV went down 30VND to 23,245 VND/USD (buying) and 23,365 VND/USD (selling).
Techcombank cut both rates by 35 VND, listingthe buying rate at 23,210 VND/USD and the selling rate at 23,350 VND/USD.
During the week from June 24-28,the reference exchange rate was adjusted down on the first two days then turnedaround to rise towards the end of the week. The rate ended the week 13 VNDhigher than the week’s beginning.
The rates listed at commercialbanks on the week’s last day were also much higher than on Monday (June24).-VNA
The foreign exchange market in Vietnam has heated up recently when the daily reference exchange rate set by the State Bank of Vietnam (SBV) continuously climbed to new record levels and the VND/USD rates listed at commercial banks also surged.
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The daily reference exchange rate was set at 23,054 VND per USD on July 1 (Photo: VNA) 
