Reference exchange rate falls further following Fed decision

The move came right after the US Federal Reserve (Fed) announced its first interest rate cut of this year.

 

The daily reference exchange rate at VNĐ25,186 per US dollar on Thursday, down VNĐ12 from the previous day. — VNA/VNS Photo 

HÀ NỘI — The State Bank of Vietnam set the daily reference exchange rate at VNĐ25,186 per US dollar on Thursday, down VNĐ12 from the previous day.

The move came right after the US Federal Reserve (Fed) announced its first interest rate cut of this year.

With the current trading band of +/- 5 per cent, the ceiling rate applicable for commercial banks during the day is VNĐ26,445 per US dollar, and the floor rate VNĐ23,927.

At 8:23 am, the opening-hour rates at major commercial banks continued to decline.

Vietcombank cut both rates by VNĐ12 from Wednesday morning, quoting the đồng at VNĐ26,165 per US dollar for buying and VNĐ26,445 for selling.

Meanwhile, BIDV lowered the buying rate by VNĐ17 to VNĐ26,178 per US dollar and the selling rate by VNĐ12 to VNĐ26,445. — VNA/VNS

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