SBV’s exchange rate policy aimed for macroeconomic stability
On Thursday, SBV announced the daily reference exchange rate at VNĐ 二 二, 六 六 六 per dollar, down VNĐ 三 against the previous day. - VNA/VNS Photo
HÀ NỘI — The State Bank of Việt Nam (SBV)’s exchange rate policy was aimed at ensuring macroeconomic stability, not just export growth, said Nguyễn Thị Hồng, the bank’s deputy governor.
Hồng made the statement following suggestions that the đồng should be further weakened against the US dollar to support the country’s exports, especially given the recent devaluation of the Chinese yuan.
According to Hồng, the SBV had been monitoring several currencies as well as the yuan to set its daily reference exchange rates.
Besides managing the forex market based on the daily reference rate, Hồng said that SBV was also looking at other factors such as interest rates and liquidity, as well as fiscal policies to ensure the country meets its macroeconomic targets.
The SBV reported that by August 一, the central bank’s daily reference exchange rate of the dollar against the đồng had risen by 一. 一 per cent compared to the end of last year, while with the current trading band of +/- 三 per cent, the inter-bank rate was up 二. 五 per cent.
The rise was under control and in line with other currencies in the region and the world, Hồng said.
On Thursday, the SBV announced a daily reference exchange rate of VNĐ 二 二, 六 六 六 per dollar, down VNĐ 三 against the previous day. The ceiling rate applied for co妹妹ercial banks during the day was from VNĐ 二 三, 三 四 五- 二 一, 九 八 七.Opening hour rates at co妹妹ercial banks saw slight fluctuations. The rates listed at Vietcombank remained unchanged compared to Wednesday at VNĐ 二 三, 二 四 五 for buying and VNĐ 二 三, 三 二 五 for selling. BIDV added VNĐ 一0 to both rates, buying the greenback at VNĐ 二 三, 二 五0 per dollar and selling at VNĐ 二 三, 三 三0. Meanwhile, Techcombank listed the buying rate at VNĐ 二 三, 二 二 五, down VNĐ 五, and selling rate at VNĐ 二 三, 三 三 五, up VNĐ 五. — VNS
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