Cooling Down the VND/USD Exchange Rate

After several days of strong gains, both the in-bank and out-bank US dollar prices have cooled off as the international USD Index declines.


USD price cooled down on January 23

On January 23, the central exchange rate of VND/USD announced by the State Bank of Vietnam was 24,030 dong/USD, a decrease of 1 dong compared to the previous day.

The USD prices at commercial banks also decreased slightly. Eximbank bought at 24,410 dong/USD, sold at 24,710 dong/USD – a decrease of 10 dong/USD. Other banks traded USD at prices that were not significantly different from Eximbank.

In the free market, after several days staying at a high level, the selling price of USD also decreased by 10 dong, to 25,070 dong/USD.

Meanwhile, the global financial market reduced expectations of an early interest rate cut by the United States. As a result, the international USD Index slightly decreased to 103.28 points, causing the value of the USD to slightly decrease compared to many other currencies, which had a certain impact on the VND/USD exchange rate.

Photo by Thy Tho

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