Margin limit for exchange rates remains at +/-3

The margin limit for exchange rates remains at +/-3, Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong told a press conference in Hanoi on January 4.

Photo for Illustration (Pho to: Thai Thien)

The margin is subject to the Vietnamese dong exchange rate to the US dollar, the Euro, the Chinese yuan, the Thai baht, the Singapore dollar, the Japanese yen, the Republic of Korea won and the Taiwan dollar, according to Director of the State Bank of Vietnam (SBV)’s Monetary Policy Department Bui Quoc Dung.

Dung said the move will facilitate supply and demand of foreign currencies, thereby encouraging lending and export-import.

Hong, for her part, affirmed that the central bank steadfastly pursues the monetary goal of stabilising foreign exchange market and improving the Vietnamese dong’s value by minimising dollarisation.

(Source: VNA)