Emergency services were called to a car park on Wodonga Place, Albury, on the border with Victoria, at about 6.15pm.
They found a 30-year-old man with a stab wound in his chest.
Paramedics treated him and he was taken to hospital, where he later died.
Later that night, police arrested a 28-year-old man at about 9.10pm at Olive Street in Albury.
He was charged with murder and refused bail to appear in court today.
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