USD prices on the free market today have increased rapidly. The free USD prices this morning were commonly traded around 25,480-25,580 dong/USD (buying – selling).
Compared to the previous session, the free USD prices today have increased by 110 dong/USD in the buying direction and up to 140 dong/USD in the selling direction.
In the same trend, on the official market, the USD prices also tend to go up.
The central exchange rate announced by the State Bank of Vietnam on March 4th is 24,004 dong/USD, an increase of 2 dong compared to the quoted rate of the previous weekend.
Applying the 5% margin, commercial banks are allowed to trade at the ceiling exchange rate today of 25,204 dong/USD and the floor exchange rate of 22,804 dong/USD.
 USD prices on the free market have increased sharply. Illustration photo: Hoang Ha. |
The reference selling exchange rate also increased by 2 dong, bringing the trading range to 23,400-25,154 dong/USD (buying – selling).
The USD/VND exchange rate at many commercial banks this morning also increased slightly.
Specifically, at 10:30 AM on March 4th, Vietcombank quoted the USD prices at 24,470-24,840 dong/USD (buying – selling), an increase of 20 dong/USD in both buying and selling directions compared to the last trading session on March 1st.
At the same time, VietinBank traded USD at the prices of 24,441 dong/USD (buying) and 24,861 dong/USD (selling), an increase of 36 dong/USD in both directions compared to the morning of March 1st.
Meanwhile, Techcombank bought USD at the price of 24,513 dong/USD and sold at the price of 24,859 dong/USD. Compared to the morning of March 1st, the USD prices at Techcombank this morning increased by 40 dong/USD in the buying direction and 45 dong/USD in the selling direction.
Sacombank this morning quoted the USD prices at 24,485-24,950 dong/USD (buying – selling), an increase of 45 dong/USD in the buying direction and 40 dong/USD in the selling direction compared to the morning of March 1st.
It can be seen that the USD prices in the free market now have surpassed the prices at commercial banks.
Specifically, the buying price of USD in the free market is approximately 1,000 dong higher than at commercial banks. The selling price of USD in the free market is also higher than the selling price at commercial banks by around 600-700 dong.
On the international market, the USD prices have dropped after news of inflation in the eurozone and weaker-than-expected US economic data.
Hanh Nguyen
