One dollar is now equivalent to 21,246 dong, in stead of 21,036.

HA NOI (Biz Hub) — The dong/US dollar inter-bank exchange rate increases by one per cent today after remaining intact for a year.

The increase was announced by the State Bank of Viet Nam (SBV) yesterday.

One dollar is now equivalent to 21,246 dong, in stead of 21,036. The exchange rates at banks can be 1 per cent lower or higher than the interbank rate, ranging between 21,034 and 21,458 dong per dollar.

The central bank said the adjustment would support macro-economic development, help increase foreign exchange reserves and improve international balance of payments.

With the monetary market stable and inflation maintained at low levels this year, the move would stimulate exports and support economic growth during the remaining months of this year, it said.— VNS