SBV widens exchange rate band

The average inter-bank VND/USD exchange rate is VND21,673, with a ceiling rate of VND21,106 and a floor rate of VND21,240.

In the first half of this year the SBV adjusted the average inter-bank exchange rate on January 7 and May 7. The decision is due to unpredictable factors in the global economy.

The most influential factor is said to be the devaluation of the Chinese Renminbi on Tuesday. Given the huge trade turnover between Vietnam and China, the devaluation will have a negative impact on Vietnam’s economy.