The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,170 VND/USD on July 11.

With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,864 VND/USD and the floor rate 22,476 VND/USD.

The opening-hour rates at all commercial banks also decreased.

Vietcombank listed the buying rate at 23,180 VND/USD and the selling rate at 23,490 VND/USD, both down 10 VND from July 8.

BIDV also cut both rates by 5 VND to 23,210 VND/USD (buying) and 23,490 VND/USD (selling).

During the week from July 4-8, the daily reference exchange rate followed an upward trend for most of the week before turning around to drop on Friday, ending the week up 56 VND from Monday.