Why a wider trading band
The State Bank of Vietnam (SBV) on October 17, 2022 widened the trading band of the Vietnamese dong currency
The central bank’s city branch also requested domestic banks and foreign bank branches to publicly announce their exchange rates between the Vietnam dong and the U.S. dollar.
The authorities will inspect foreign exchange agents to ensure they comply with the prevailing regulations.
On October 17, the central bank widened the trading band of the Vietnamese dong amid the strong rise of the U.S. dollar against many other currencies.