Vietnam raises reference exchange rate

HANOI, April 18 (Xinhua) -- Vietnam's central bank on Wednesday raised its reference exchange rate between Vietnamese dong and U.S. dollar by 5 Vietnamese dong to 22,482 Vietnamese dong per U.S. dollar.

With the current trading band of plus or minus 3 percent, the ceiling exchange rate is 23,160 Vietnamese dong per U.S. dollar, and the floor rate is 21,716 Vietnamese dong per U.S. dollar, said the State Bank of Vietnam.

Despite the hike in reference exchange rate, listed rates at big commercial banks in Vietnam dropped compared to those on Tuesday. BIDV cut 5 Vietnamese dong from both rates, buying the greenback at 22,735 Vietnamese dong per U.S. dollar and selling at 22,805 Vietnamese dong per U.S. dollar.

Vietinbank lowered its listed rates by 4 Vietnamese dong each to 22,734 Vietnamese dong per U.S. dollar for buying and 22,804 Vietnamese dong per U.S. dollar for selling.

In the first two days of this week, the central bank adjusted down its reference exchange rate with total magnitude of 15 Vietnamese dong per U.S. dollar.

According to Vietnam's National Financial Supervisory Commission, the central exchange rate in late 2017 rose around 1.6 percent against early 2017, while the average rate offered by commercial banks decreased 0.2 percent, and on the free market dropped some 1.5 percent. Enditem