Reference rate not affected by US FED’s raising interest rate
The daily reference VND/USD exchange rate was cut by 3 VND to 22,405 VND per USD on June 15, seemingly unaffected by the interest rate hike by the US Federal Reserve.
Hanoi, (VNA) – The daily reference VND/USD exchange rate was cutby 3 VND to 22,405 VND per USD on June 15, seemingly unaffected by the interestrate hike by the US Federal Reserve.
With the current trading band of +/- 3 percent, the ceiling rate appliedto commercial banks during the day is 23,077 VND and the floor rate 21,733 VNDper USD.
The rates listed at commercial banks during the opening hour mostlystayed unchanged from the day before.
Both Vietcombank and BIDV kept their rates at the same level as on June14, at 22,665 VND (buying) and 22,735 VND (selling) per USD.
Techcombank kept its buying rate unchanged at 22,630 VND but raised theselling rate by 10 VND to 22,750 VND per USD.
Earlier, experts said current foreign exchange policies of the StateBank have cushioned the domestic forex against outside shocks.
However, the National Financial Supervision Committee also warned theexchange rate will bear pressure caused by demand for foreign currencies to payfor imports in the last months of the year.
The country is forecast to have a trade deficit of about 3.5 percent oftotal export value.-VNA
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Illustrative image (Source: VNA) 
