Friday, February 22, 2019 12:52:54 PM - Markets open
VN-INDEX 992.43 +4.86/+0.49%
HNX-INDEX 106.80 +0.68/+0.64%
UPCOM-INDEX 55.50 -0.04/-0.07%
Average VND/USD exchange rate rises by another 1%
Source: VNS - 8/20/2015 8:16:20 AM
 (0 ratings. You must sign in to rate.)
The State Bank of Vietnam (SBV) has increased the average inter-bank exchange rate between the VND and USD applicable to August 19 by 1%, from VND21,673to VND21,890 per US$1.

The central bank also widened the trading band of VND/USD from +/- 2% to +/- 3%.

With those adjustments, the ceiling exchange rate is VND22,547 per dollar and the floor rate is VND21,233 per dollar.

The SBV explained that to respond to the Chinese yuan’s strongest devaluation in two decades, the bank 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 proved that move was appropriate.

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.

With the recent 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 noted.

The central bank vowed to employ synchronous measures and monetary policy tools to stabilise the foreign exchange market and exchange rates.
Newer News
20/02 Bank liquidity abundant after Tet
19/02 Reference exchange rate down 6 VND
18/02 Deposit rate forecast to stay steady over next few months
18/02 Reference exchange rate down at week’s beginning
14/02 Reference exchange rate remains stable
13/02 Reference exchange rate continues increasing
13/02 VPB: VPBank named in Top 500 valuable bank brands for first time
12/02 Reference exchange rate up on first day after Tet
11/02 Banks expected to maintain good performance in 2019
31/01 Reference exchange rate unchanged on January 31
Older News
19/08 Remittances to Ho Chi Minh City hit $2.42 bil in Jan-July
19/08 MB to meet bad debt requirements
18/08 Vietnam’s public debts not too high, but still risky: economist
18/08 Vietnam's gold consumption falls slightly, interest in jewelry grows: report
18/08 Better business enables banks to hire another 2,000 workers
17/08 Policies could help SMEs borrow
17/08 Forex rates to remain under pressure
17/08 DongA Bank put under special supervision
14/08 Vietnam approves Sacombank, Southernbank merger
14/08 Vietnam seen devaluing further after busting limit of 2 pct decline
 
Newsletter Signup
Top Stories
Vinalines Logistics’ profit growth projected at least 10 percent
Shares move little as Tết approaches
Consumer price index slips 0.07 per cent during August
Average VND/USD exchange rate rises by another 1%
Vietnam doubles dong’s trading band after China devalues yuan
Market Update
Last updated at 1:07:41 PM
VN-INDEX 992.43 +4.86/+0.49%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.