State Bank of Vietnam says cuts FX intervention frequency

The State Bank of Vietnam (SBV) said it has cut the frequency of its foreign exchange interventions to allow the Vietnamese dong to move in accordance with the market.

"From Feb. 17, 2021, the SBV reduced the frequency of buying intervention to once a week on every Wednesday, instead of daily," the central bank said in an email to Reuters.

"This move aims at letting the rate move in accordance with the market."