Reference exchange rate continues to go down

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND/US$23,660 on December 2, down VND2 from the previous day.

With the current trading band of +/-5%, the ceiling rate applicable to commercial banks during the day is VND/US$24,843 and the floor rate VND/US$22,477.

The opening-hour rates at commercial banks dropped.

At 8:35am, BIDV listed the buying rate at VND/US$24,350 and the selling rate at VND/US$24,630, both down VND20 from the end of December 1.

Vietcombank also cut VND10 from both rate, listing the buying rate at VND/US$24,320  and the selling rate at VND/US$24,630.

During the week from November 28 to December 2, the daily exchange rate followed a downward trend, ending the week down VND7.