Dollar rises to all-time high against Vietnamese dong

The State Bank of Vietnam (SBV) on Saturday morning set the reference rate for the Vietnamese dong at VND23,283, the same as Friday and VND50 higher than early this week.

At commercial banks, the Vietnamese dong is at its lowest in history.

Vietcombank, the country’s largest lender, has sold the U.S. dollar for VND23,795, up more than 3.8 percent from the beginning of this year.

Top private player Techcombank’s rates were VND23,810, while that of Eximbank were VND23,790, and Sacombank VND23,967.

The SBV allows the Vietnamese dong to trade within a band of 3% on either side of the reference rate, which is based on eight currencies and set daily.