Reference exchange rate maintains upward trend

The State Bank of Vietnam set the daily reference exchange rate at 23,252 VND per USD on March 20, up 10 VND from the previous day, the sixth consecutive upward adjustment.

With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,948 VND/USD and the floor rate 22,556 VND/USD.

The opening hour rates at most commercial banks saw strong rises.

At 8:25 am, Vietcombank listed the buying rate at 23,305 VND/USD, up 105 VND and the selling rate at 23,495 VND/USD, up 125 VND from March 19.

BIDV also raised the buying rate by 105 VND to 23,335 VND/USD and the selling rate by 125 VND to 23,495 VND/USD.

Meanwhile, Techcombank added 118 VND to both rates, with the buying rate listed at 23,330 VND/USD and the selling rate at 23,490 VND/USD.

The daily reference exchange rate followed an upward trend throughout the week from March 16 to 20, gaining a total 30 VND.

The rates listed at commercial banks also rose remarkably, ending the week by around 200 VND higher than those on Monday.

Source: Vietnam News Agency