Vietnam Cuts Reference Exchange Rate by 5 VND Amid Economic Stability Efforts
Vietnam's central bank on October 16 lowered its reference exchange rate by 5 VND per USD. The move sets the ceiling rate for commercial banks at 26,924 VND/USD and the floor rate at 24,360 VND/USD within the current +/- 5% band. This adjustment is seen as part of efforts to stabilize the Vietnamese economy and improve the investment climate.
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