From March 11 to present, the central exchange rate decreased from 23,972 VND to 23,957 VND/USD.
On March 13, the State Bank of Vietnam announced the central exchange rate at 23,957 VND/USD, an increase of 2 VND/USD. However, if calculated from March 11 (the date the State Bank issued bonds) until now, the central exchange rate decreased from 23,972 VND to 23,957 VND/USD.
In contrast, the USD/VND exchange rate at Vietcombank, BIDV, Sacombank, Eximbank… decreased by about 10 VND, selling at around 24,800 VND/USD.
Meanwhile, the USD price in the free market sold by foreign exchange traders is 25,550 VND/USD, a decrease of 150 VND compared to the highest price set on March 11.
Speaking to a reporter from Người Lao Động newspaper, a senior leader of the State Bank said that the interbank exchange rate has been increasing rapidly in recent times.
The State Bank of Vietnam identifies the main reason as the surplus short-term liquidity of the VND banking system. Therefore, it needs to be regulated through bond issuance to support the exchange rate.
Accordingly, through 2 bond auction sessions, 13 organizations won with an annual interest rate of 1.4%. The State Bank of Vietnam has absorbed 30,000 billion VND. This can make the VND interest rate in the interbank market rise, narrowing the difference with the USD interest rate, contributing to cooling down the USD/VND exchange rate.
