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
State Bank unexpectedly adjusts USD exchange rate
By Tuan Minh 17:52, 2015/12/15
On December 15, the State Bank of Vietnam (SBV) Operation Centre has unexpectedly adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by VND90.
The reference buying rate rose from VND21,800 to VND21,890 per one USD, and the selling rate, VND22,575 per one USD. Accordingly, many commercial banks also raised their selling rate to the ceiling allowed by the SBV and increased the buying rate at the same time. 

Specifically, the reference rate at the central bank exchanges listed in the 21.890-22.475VND / USD (buy-sell). Accordingly, commercial banks this morning also simultaneously adjusted dollar price increased sharply in afternoon buying after adjustments rose to touch the ceiling in selling side.


The current listing of Vietcombank USD buying-selling at 22.540-22.547VND / USD. This price has hit the 22,547 VND / USD by the central bank, also in the buying side, the bank has revised up by 65 dong compared with the same time yesterday.

Similarly, the Bank also adjusted the selling price to the ceiling and adjust the purchase price increased by 42 contracts over the same time yesterday morning. The prices of the greenback in this bank are listed at 22.517-22.547VND / USD (buy-sell). At Techcombank, compared with the same period last morning, the USD could be adjusted in the afternoon by VND40 to $ 22 460 VND buying and selling side, 22,547 contracts have reached a ceiling.

The average exchange rate was 21,890 dong interbank, the vibration amplitude in the range of +/- 3%, with the USD selling at 22,547 dong, the banks have reached a ceiling allowed by the State Bank.

Over 1 month, the USD at commercial banks constantly fluctuating. Also cause increased demand for foreign currency at the end of the year, this development also for the effect of speculation on the possibility of interest rate adjustments Federal Reserve (Fed).

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted its US dollar buying and selling prices at VND22,540-22,547 while the Bank for Investment and Development of Vietnam (BIDV) is transacting at VND22,517-22,547 per one USD. 

Meanwhile, the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) set the buying and selling rates at VND22,460 and 22,547 per one USD. The inter-bank exchange rate between the two currencies set by the SBV is now at VND21,890 with commercial banks allowed to adjust their rates at an amplitude of +/-3 percent. With the adjustment, the new selling rate applied at commercial banks has touched the ceiling exchange rate of VND22,547 per one USD. 

The USD price has fluctuated greatly over the past month due to increasing foreign currencies demand towards the end of the year and impact of rumours on the US Federal Reserve (FED)’s possible increase of interest rates.

Representatives of State Bank of Vietnam said that the adjustment measures over time, rates have geographical balance flexible enough to respond prior to the adverse developments in the international market and domestic, not only from now until Last year when the first few months of 2016. If the Fed to raise interest rates will not affect the stability-oriented exchange rate of the State Bank.

Earlier, on December 14, the USD / VND have been increased the ceiling of 22,547 VND / USD byu ​many commercial banks.
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.