The State Bank of Vietnam adjusts the USD buying price upwards.
On August 7th, the State Bank of Vietnam's exchange rate department decided to raise the USD buying price by 274 VND to 21,100 VND/USD after keeping it stable at 20,826 VND for over a month.
(Illustrative photo: Tran Viet/VNA)
The selling price of USD at the State Bank of Vietnam's Exchange was also adjusted upwards by 116 dong to 21,246 VND/USD. However, the average USD exchange rate in the interbank market remained at 21,036 VND/USD.
Economist Nguyen Tri Hieu commented that this change is market-driven and shows no unusual signs. The State Bank's decision to adjust the USD buying price may stem from increased demand for foreign currency. This also signals that the regulatory body has begun buying foreign currency.
Meanwhile, some market observers suggest that this could be an intervention by the State Bank of Vietnam to prevent the VND from appreciating against the USD over the past week, in order to avoid negatively impacting export activities.
Today (August 7th), the exchange rate between the Vietnamese Dong and the US Dollar at commercial banks has slightly increased again after falling for more than a week, with the buying price fluctuating between 20,040-20,060 VND/USD and the selling price around 21,130 VND/USD.
The listed exchange rate (buy-sell) at Vietnam Foreign Trade Bank (Vietcombank) stands at 21,060-21,140 VND/USD, an increase of 50 VND compared to August 6th; at ACB it is 21,040-21,130 VND/USD; at Eximbank it is 21,050-21,130 VND/USD; at BIDV it is 21,060-21,130 VND/USD.
According to (VNA) - M.D
