Vietnam's regulatory interest rate to be reduced by 0.5%

The State Bank of Vietnam (SBV) issued two decisions to reduce regulatory interest rates by 0.5%, which will come into force on May 25. The SBV also set the daily reference exchange rate at 23,670 VND per USD on May 23, down 14 VND from the previous day.

With the current trading band of plus or minus 5%, the ceiling rate applicable for commercial banks during the day is 24,853 VND/USD and the floor rate 22,486 VND/USD. The opening hour rates at commercial banks stayed stable.