CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
SBV continues to increase average VND/USD exchange rate by 1%
Thu Minh 10:39, 2015/08/21
The State Bank of Vietnam (SBV) has increased by 1% for the average inter-bank exchange rate between the VND and USD on August 19.
The central bank increased the average inter-bank exchange rate between the VND and USD
applicable to August 19 from 21,673 VND to 21,890 VND per dollar and also widened the trading band of VND/USD from +/- 2% to +/- 3%. With those adjustments, the ceiling exchange rate is 22,547 VND per dollar and the floor rate is 21,233 VND per dollar. 
According to the central bank, in respond to the Chinese yuan’s strongest devaluation in two decades, the SBV already raised the trading band of VND/USD from +/- 1% to +/-2% on August 12. Developments in the domestic and foreign markets in the following days showed that move was appropriate. 
 
Illustrative image
Illustrative image
However, the domestic market is still concerned over the impact of the US Federal Reserve (FED)’s possible increase of interest rates, the bank said, elaborating that it hiked the inter-bank exchange rate to proactively lead the market and prepare for adverse effects of the FED’s likely move. 
The SBV noted that with these adjustments, the VND will be more flexible to changes in the domestic and global markets until early 2016, helping ensure stability in the foreign exchange market and the competitiveness of Vietnamese goods. 
The SBV affirmed to carry out synchronous measures and monetary policy tools to stabilise the foreign exchange market and exchange rates.
Comments
Other news
16:48, 2025/02/27
Local banks cut interest rates in response to PM’s request
The rate cuts come in response to the Prime Minister’s directive to inspect and review banks that have recently increased deposit rates.
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.