Operation Center of the State Bank of Vietnam (SBV), the country's central bank, adjusted the reference exchange rate between the Vietnamese dong (VND) and the U.S. dollar (USD) on Tuesday.
Accordingly, the reference buying rate increased by 90 VND, from 21,800 VND to 21,890 VND for one USD, while the selling rate was kept unchanged at 22,475 VND per one USD.
Following the adjustment of the central bank, many commercial banks raised their selling rate to the ceiling level at 22,547 VND/USD as regulated by the SBV. Daily VND/USD rate amplitude at commercial banks can be set within three percent of the SBV's inter-bank average exchange rate.
However, SBV's inter-bank average exchange rate on Tuesday stayed at 21,890 VND/USD, keeping months unchanged since August.
The USD price in Vietnamese market has fluctuated in the past month due to increasing demand for foreign currencies at the end of the year for trading activities as well as impacts of information on U.S. Federal Reserve System (FED)'s possible increase of interest rates.
FED is scheduled to hold a meeting this week on monetary policy, which is expected to produce the first FED rate hike in nine years.
original source: http://www.globalpost.com/article/6705638/2015/12/15/vietnamese-central-bank-adjusts-vndusd-exchange-rate