Dollar rises to all-time high against Vietnamese dong
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The U.S. dollar continued to strengthen and reached its historic high against Vietnamese currency Saturday.
The State Bank of Vietnam (SBV) on Saturday morning set the reference rate for the Vietnamese dong at VND23,283, the same as Friday and VND50 higher than early this week.
At commercial banks, the Vietnamese dong is at its lowest in history.
Vietcombank, the country’s largest lender, has sold the U.S. dollar for VND23,795, up more than 3.8 percent from the beginning of this year.
Top private player Techcombank’s rates were VND23,810, Eximbank’s were VND23,790, and Sacombank VND23,967.
The SBV allows the Vietnamese dong to trade within a band of 3% on either side of the reference rate, which is based on eight currencies and set daily.
Questions & Answers
Q.What is the new reference rate for the Vietnamese dong set by the State Bank of Vietnam?
What is the new reference rate for the Vietnamese dong set by the State Bank of Vietnam?
The State Bank of Vietnam set the reference rate for the Vietnamese dong at VND23,283 on Saturday morning. This was the same as Friday's rate and VND50 higher than it was earlier in the week.
Q.Which commercial bank is selling the U.S. Dollar at the highest rate among those mentioned?
Which commercial bank is selling the U.S. Dollar at the highest rate among those mentioned?
Sacombank is selling the U.S. Dollar at the highest rate among the banks listed in the article, at VND23,967. Vietcombank's rate is VND23,795, Techcombank's is VND23,810, and Eximbank's is VND23,790.
Q.How much has the U.S. Dollar increased against the Vietnamese dong at Vietcombank since the start of the year?
How much has the U.S. Dollar increased against the Vietnamese dong at Vietcombank since the start of the year?
At Vietcombank, the U.S. Dollar has increased by more than 3.8 percent against the Vietnamese dong since the beginning of this year. The bank is currently selling the dollar for VND23,795.
Q.What is the allowed trading band for the Vietnamese dong relative to the State Bank of Vietnam's reference rate?
What is the allowed trading band for the Vietnamese dong relative to the State Bank of Vietnam's reference rate?
The State Bank of Vietnam permits the Vietnamese dong to trade within a band of 3% on either side of its daily reference rate. This reference rate is calculated based on eight different currencies.
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