The State Bank of Vietnam has continued increasing the USD/VND exchange rate in the past few days. USD/VND exchange rate has increased in the past days The US dollar index against the euro, Japanese yen, Canadian dollar, British pound, Swedish krona and Swiss franc, rose 0.2% to more than a one-week high of 96.433. The USD also rose in many countries in Asia including Vietnam. According to Saigon Securities Inc., the State Bank of Vietnam bought foreign currency in early March. It is said that the stability of the Chinese Yuan would help stabilise the Vietnam Dong. On the free market, the exchange rate was one US dollar to 23,210-23,215 Vietnam dong on the morning of March 28. The reference exchange rate on March 28 was one US dollar to 22,978 Vietnam dong on the web portal of the SBV, the highest rate since early 2018. Economist Dinh Trong Thinh from the Academy of Finance said that in previous years, Vietnam had increased the USD/VND exchange rate to boost exports. … [Read more...] about Expert explains USD/VND exchange rate increase
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USD/VND inter-bank exchange rate edges down
The reference exchange rate on January 29 remains unchanged at 22,858 VND/USD from the previous day. The final trading week before the beginning of Tet (January 28 2018 - February 1 2019), followed the market trend of previous years in the weeks approaching the holidays, according to Vietnam Economic Times. The foreign exchange market saw strong transactions converting foreign currencies into VND while the USD/VND exchange rate decreased. In addition, the lending rate soared due to an increased demand for VND during peak days. On January 28, the State Bank of Vietnam (SBV) suddenly shifted the reference exchange rate to 22,858 VND/USD, a sharp drop of VND22 compared to the final session of last week. The rate on January 29 remained unchanged from the previous day. The SBV Operations Center has reportedly maintained a USD buying price of VND23,200 since the beginning of the year, which was considered as a rate cap. Since the beginning of 2019, the … [Read more...] about USD/VND inter-bank exchange rate edges down
USD/VND exchange rate remains under control in 2018
Banks cut the USD/VND exchange rate by some 15-40 VND per USD on December 28 (Photo: VNA) Hanoi (VNS/VNA) - Commercial banks have consecutively lowered the value of the US dollar against the Vietnamese dong during the final days of 2018, helping the USD/VND exchange rate close the year under control. The exchange rate at commercial banks dropped sharply over three days since December 26, pushing the rate below the threshold of 23,300 VND per dollar, the lowest level since September 21 this year. On December 28 alone, banks depreciated the dollar against the VND by some 15-40 VND per USD. The decline was notable especially when the central bank consecutively raised the daily reference USD/VND exchange rate. On the last working day of 2018, the State Bank of Vietnam (SBV) continued to adjust the rate upwards by 20 VND to 22,825 VND/USD. With the current trading band of /- 3 percent, commercial banks were allowed to sell the dollar at the cap of 23,509 … [Read more...] about USD/VND exchange rate remains under control in 2018
USD/VND exchange rate remains stable in face of Chinese yuan’s slide
The Hanoitimes - The State Bank of Vietnam (SBV)’s timely intervention has been key to stabilize the VND in the context of global uncertainties. The USD/VND exchange rate remained stable in October and even declined in early November, despite fluctuations of the international monetary market, according to Saigon Securities Incorporate (SSI). Illustrative photo. In comparison, the Chinese yuan (CNY) has devalued by 2.1% over the last two months, reaching CNY6.9758 for one USD as of the end of October and the highest since the beginning of 2017. Meanwhile, the People’s Bank of China has set the daily rate of the CNY to a decade-low of CNY6.9574. A sharp depreciation of the CNY has stoked a debate on whether or when it will slide to the psychologically important CNY7 a dollar. Meanwhile, the Vietnamese dong (VND) has devalued only 0.24% during the same period. In October, the SBV increased the reference exchange rate from VND22,714 to … [Read more...] about USD/VND exchange rate remains stable in face of Chinese yuan’s slide
USD/VND exchange rate to remain stable in remaining months of 2018: Experts
The Hanoitimes - Vietnam`s foreign exchange reserves are sufficient to stabilize the exchange rate until the end of the year. Vietnam's large foreign exchange reserves and foreign direct investment (FDI), coupled with the flexible management of the State Bank of Vietnam (SBV) are considered main factors to keep the USD/VND exchange rate stable in the remaining months of 2018, VnExpress cited experts as saying. Illustrative photo. In early October, the SBV's reference exchange rate has been fluctuating, reaching VND22,721, the highest since the beginning of the year and up 1.41% against the end of 2017. Meanwhile, the USD/VND exchange rate quoted by commercial banks also increased considerably, hovering around VND23,315 - 23,395, or even VND23,400. Local banks can set their USD prices +/-3% on the either side of the benchmark rate fixed by the central bank. In the free market, the USD buying and selling prices were VND23,440 and VND23,490, up VND20 for each … [Read more...] about USD/VND exchange rate to remain stable in remaining months of 2018: Experts