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The central bank said yesterday that the interbank rate between the local currency and the US dollar will increase from VND21,246 to VND21,458 from January 7, the first exchange rate adjustment since June 2013.
The US dollar is allowed to trade by as much as 1% on either side of the central bank’s reference rate.
Last December, SBV Governor Nguyen Van Binh said the foreign exchange rate will be adjusted by a maximum of 2% in 2015, the pledge made and fulfilled by the central banker in the previous three years.
The central bank said in a statement that despite many fluctuations on the global financial market, the domestic market and exchange rates were stable and demand for foreign currency was fully met.
The SBV added that it will implement synchronous policy measures and instruments to ensure stability of the market with the new price level.