Commercial banks raise VND/USD exchange rate

After many sessions of stable transactions, the Vietnamese dong to US dollar exchange rate at commercial banks  hiked 50 dongs per dollar even when the State Bank of Vietnam kept the reference exchange rate unchanged at VND22,232 per USD on March 1.

Illustrative image

At the end of the afternoon, Techcombank increased the buying and selling prices to VND 22,720 and VND 22,850. Vietcombank posted the prices at VND 22,770 and VND 22,840.

The exchange rate increase was atributed to the dollar appreciation in the world market after some officials from the Federal Reserve System announced the possibility of the dollar rate increase this month.

In the morning session on the same day in the Asian market, the dollar hit a strong hike with the US Dollar Index moving up 0.4 percent to 101.55 points.

By Nhung Nguyen – Translated by Hai Mien

Other news

Economy

Retailers urged to keep up with innovation trends

The retail industry has changed dramatically in the digital age where everything is connected, requiring retailers to continue to innovate to better serve customers’ diverse needs, speakers have said at a one-day summit held in Ho Chi Minh City.
 

Self - introduction

Stock market

MoC sells 118.3million of DIG's shares

The Development & Investment Construction (DIG) Corp, said Ministry of Construction (MoC) has registered to sell 118.3 million shares accounting for 49.65 percent of DIG’s total capital within one month starting November 17.