SBV announced new trading band VND / USD at ± 5%
Monday, 23. March 2009, 10:16:48
State Bank of Vietnam announced today to increase variation range of VND to USD. The inter-banks trading band is increased from ± 3% to ± 5%, effective from March 24.
New trading band will pave the way for more flexible transaction. Pic: Foreign exchange agent in Hanoi, also known as free market.
"The decision will help the exchange rate variation to be more flexible, and moving closer to the demand and supplies of foreign currencies in the market", said in a release by SBV.
State bank also said Vietnamese macro-economic had positive signals in the first quarter of 2009, showed in lower inflation rate and trade surplus. But SBV widen the trading band to increase the ability of adjustment of the economy.
SBV warns organisations and all financial institutions from trading VND/ USD over the allowed trading band of 5%./.
New trading band will pave the way for more flexible transaction. Pic: Foreign exchange agent in Hanoi, also known as free market. "The decision will help the exchange rate variation to be more flexible, and moving closer to the demand and supplies of foreign currencies in the market", said in a release by SBV.
State bank also said Vietnamese macro-economic had positive signals in the first quarter of 2009, showed in lower inflation rate and trade surplus. But SBV widen the trading band to increase the ability of adjustment of the economy.
SBV warns organisations and all financial institutions from trading VND/ USD over the allowed trading band of 5%./.
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