The State Bank of Vietnam (SBV)’s selling and purchasing prices were officially set at VND21,350 and VND21,600 to one US dollar on January 12, up VND150 and VND200 respectively.
The move was made in an effort to slow the exchange rate’s decline after the inter-bank rate was raised by 1 percent on January 7, as well as to support exports.
In response to the State Bank's fixed rate, selling prices are ranging from VND21,300 to VND21,320, with purchasing prices between VND21,380 - VND21,385, to one US dollar at commercial banks such as Techcombank and Vietcombank.
The State Bank is prepared to buy and sell US dollar in a bid to stabilise the foreign exchange market.
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