Reference exchange rate down on November 5
The State Bank of Vietnam adjusted the daily reference exchange rate down on November 5, setting the rate at 22,725 VND per USD, 2 VND lower than the rate on the last day of previous week (November 2).
With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,404 VND/USD and the floor rate 22,042 VND/USD.
The opening hour rates at commercial banks continued to go down, keeping the trend from November 2.
Both Vietcombank and BIDV cut 15 VND from both rates, listing the buying rate at 23,275 VND/USD and the selling rate at 23,365 VND/USD.
Techcombank reduced both rates by 25 VND, listing the buying rate at 23,255 VND/USD and the selling rate at 23,365 VND/USD.
Last week (October 29 to November 2), the reference exchange rate opened the week down to 22,722 VND per USD, but went up for the next three days before dropping on Friday to 22,725 VND/USD.
The rates at commercial banks stayed stable for most of the week before going down on Friday.