The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,219 VND/USD on August 31.

With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,917 VND/USD and the floor rate 22,522 VND/USD.

The opening-hour rates at many commercial banks dropped.

At 8:30am, Vietcombank listed the buying rate at 23,250 VND/USD and the selling rate at 23,460 VND/USD, both down 10 VND from the end of August 30.

Meanwhile, BIDV reduced both rates by 5 VND to 23,280 VND/USD (buying) and 23,560 VND/USD (selling).