VietNamNews

US dollar devalued against đồng despite global rise

Update: February, 08/2018 - 17:30
Vietcombank on Thursday listed the dollar at VNĐ22,650 and VNĐ22,720 for buying and selling. - Photo cafef.vn
Viet Nam News

HÀ NỘI — Domestic commercial banks on Thursday continued devaluing the US dollar against the Vietnamese đồng for the second consecutive session, despite a rise of the greenback in the global market.  

The decline was seen in the context of the country’s abundant dollar supply source, while having no demand pressure. Việt Nam’s foreign reserves hit record high of more than US$57 billion till February 6, according to the State Bank of Việt Nam (SBV)’s Governor Lê Minh Hưng.

State-owned Vietcombank on Thursday listed the dollar at VNĐ22,650 and VNĐ22,720 for buying and selling, respectively, down VNĐ10 against the previous day and VNĐ25 from Monday.

BIDV also cut the buying and selling rate by VNĐ25 and VNĐ15 to quote the dollar at VNĐ22,650 and VNĐ22,730, respectively, while the decreasing rate at Vietinbank is VNĐ9 to VNĐ22,652 for buying and VNĐ22,722 for selling.

The same move was also seen at joint stock commercial banks, with a decrease of VNĐ15-25 per dollar.

ACB devalued the dollar by VNĐ20 against the previous day to VNĐ22,650 for buying and VNĐ22,720 for selling, while Techcombank listed it at VNĐ22,650 and VNĐ22,740 for buying and selling, respectively.

The SBV on Thursday also set the daily reference exchange rate at VNĐ22,435 per dollar, down by VNĐ10 from the previous day.

With the current trade band of +/- 3 per cent, the ceiling rate applied to commercial banks during the day is VNĐ23,108 and the floor rate is VNĐ21,762.

In the global market, the dollar was supported after a budget deal in Washington, rising against a broad range of currencies. US congressional leaders reached a two-year budget deal on Wednesday to raise government spending by some US$300 billion. The dollar index rose to a two-week high of 90.403 on Wednesday and last stood at 90.251. VNS