Business · Vietnam Bureau
Vietnam's reference exchange rate rises amid currency fluctuations
The State Bank of Vietnam has set the daily reference exchange rate at 25,623 VND per US dollar on November 12, marking a gain of 12 VND from the previous trading day. The movement continues recent volatility in the official benchmark rate.
LSN Vietnam ·
The State Bank of Vietnam (SBV) established the reference exchange rate at 25,623 VND/USD on November 12, reversing the previous day's upward trajectory with a 12 VND appreciation against the US dollar.
This latest adjustment reflects the ongoing fluctuations in Vietnam's foreign exchange market, which has seen mixed movements over the past week. The rate had climbed on November 11 before declining by 10 VND on November 10, and dropped 5 VND at the start of the week.
The reference exchange rate, published daily by the SBV, serves as the official benchmark for foreign exchange transactions in Vietnam's banking system. Commercial banks are required to keep their buying and selling rates within a specified band around this central rate, which helps maintain stability in the country's currency markets.
Currency movements have remained modest in recent sessions, with daily fluctuations typically ranging within a narrow band. The VND's performance continues to be influenced by broader regional and global economic factors affecting emerging market currencies.