Interbank interest rate sharply rises
The Vietnam dong’s interest rate on the interbank market exceeded 3% per annum for the first time over the past more than six months.
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The increase reflects higher demand for dong with the Tet (Lunar New Year) festival approaching.
Meanwhile, the reference VND/USD exchange rate stands at 22,730 VND/USD as listed by commercial banks, dropping from the previous rate of between 22,745-22,750 VND/USD.
The State Bank of Vietnam continues to buy a large amount of foreign currencies, with over US$4 billion purchased since the beginning of this year, raising the country’s foreign reserves to more than US$57 billion.
