After a slight decrease yesterday, the USD/VND exchange rate at many commercial banks today has been adjusted sharply upwards, higher than yesterday morning by 95-100 dong.
Specifically, at 11:09 am on February 22, Vietcombank listed the USD exchange rate at 24,390-24,760 dong/USD (buying – selling), an increase of 100 dong/USD in both buying and selling compared to yesterday morning (February 21).
VietinBank also raised the USD exchange rate by 95 dong/USD in both directions compared to yesterday morning, buying at 24,353 dong/USD and selling at 24,773 dong/USD.
Similarly, Techcombank buys USD at a price of 24,418 dong/USD and sells at a price of 24,764 dong/USD, an increase of 90 dong/USD in both buying and selling compared to the morning of February 21.
In addition, Sacombank listed the USD exchange rate at 24,395-24,860 dong/USD (buying – selling), an increase of 95 dong/USD in both directions compared to yesterday morning.
 The USD exchange rate at commercial banks is increasing sharply. Photo: Hoang Giam |
In the same trend, the USD exchange rate in the free market continues to rise.
The free market USD rate traded around 25,150-25,220 dong/USD (buying – selling) this morning. Compared to the previous session, today’s free market USD rate increased by 120 dong/USD in the buying direction and 90 dong/USD in the selling direction.
In the previous session, the free market USD rate increased by 60 dong/USD in both buying and selling directions. Therefore, over the course of 2 sessions, the free market USD rate has increased by 180 dong/USD in the buying direction and 150 dong/USD in the selling direction.
The buying rate of USD in the free market is higher than that at commercial banks by over 700 dong/USD. The selling rate of USD in the free market is higher than the selling rate of USD at commercial banks by over 400 dong.
Meanwhile, the central exchange rate reversed downward after continuous increases since the beginning of the week.
The central exchange rate announced by the State Bank of Vietnam on February 22 is 23,981 dong/USD, a decrease of 12 dong compared to the listed rate on the previous day.
Applying a 5% band, commercial banks are allowed to trade at the ceiling exchange rate of 25,180 dong/USD and the floor exchange rate of 22,782 dong/USD today.
The selling rate is also reduced by 12 dong by the State Bank’s Trading Office, bringing the buying – selling range to 23,400-25,130 dong/USD.
In the international market, the USD continues to decline. The USD weakened after the release of the minutes of the January meeting of the US Federal Reserve, which showed that policymakers are concerned about the possibility of cutting interest rates too soon. Fed officials warned that they want more evidence that inflation will continue to cool.
By Hanh Nguyen
