Hanoi (VNA) - The State Bank ofVietnam set the daily reference exchange rate at 23,250 VND per USD on March 25, down 10 VND from the previous day.
With the currenttrading band of +/-3 percent, the ceiling rate applied to commercial banksduring the day is 23,947 VND/USD and the floor rate 22,552 VND/USD.
The opening hour ratesat most commercial banks dropped remarkably.
At 8:25 am,Vietcombank listed the buying rate at 23,460 VND/USD, and the selling rate at 23,650 VND/USD, both down 100 VND from March 24.
BIDV also cut the buying rate by 100 VND, listing at 23,490 VND/USD and reduced the selling rate by 10 VND to 23,650 VND/USD.
Meanwhile, Techcombank cut 65 VND from the buying rate, listing the rate at 23,500 VND/USD, and 60 VND from the selling rate to 23,660 VND/USD.
On the previous day, the State Bank Exchange cut 258 VND from the sellingrate to 23,650 VND per USD amid the rapid rise in exchange rate recently, whilemaintaining the buying rate at 23,175 VND/USD.
The move followed a message by the SBV on March 23 that the central bankis ready to intervene when necessary to stabilize the forex market./.
The State Bank of Vietnam set the daily reference exchange rate at 23,252 VND per USD on March 20, up 10 VND from the previous day, the sixth consecutive upward adjustment.
The State Bank of Vietnam set the daily reference exchange rate at 23,259 VND per USD on March 23, up 7 VND from the last working day of previous week, and the seventh consecutive upward adjustment.
The State Bank of Vietnam set the daily reference exchange rate at 23,260 VND per USD on March 24, up 1 VND from the previous day, the eighth consecutive upward adjustment.
The State Bank of Vietnam (SBV) has said it is ready to intervene in the market when the intervention rate is lower than the current listed exchange rate on a large scale by spot or forward transactions to stabilise the foreign exchange market and the macro-economy.
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Transactions at BIDV (Source:BIDV) 
