The central exchange rate announced by the State Bank on March 15 is 23,979 dong/USD, an increase of 12 dong compared to the previous session.

Applying a 5% band, commercial banks are allowed to trade at the ceiling exchange rate today, which is 25,178 dong/USD, and the floor exchange rate is 22,780 dong/USD.

The selling exchange rate is also increased by 12 dong by the State Bank Trading Department, bringing the buying – selling range to 23,400-25,127 dong/USD.

The USD/VND exchange rate at many commercial banks is also adjusted to a higher level. The selling price of USD at banks is at 24,900 dong/USD, surpassing the previous high of 24,888 dong/USD recorded on October 25, 2022.

Specifically, at 10:45 am on March 15, Vietcombank listed the USD exchange rate at 24,540-24,910 dong/USD (buying – selling), an increase of 60 dong/USD in both the buying and selling directions compared to yesterday morning (March 14). This is the highest quoted USD price at Vietcombank ever.

The USD exchange rate of banks reaches a new peak. Photo: Hoang Giam

The selling price of USD at many other banks is also around 24,900 dong/USD. Some banks even raised the selling price of USD close to 25,000 dong/USD.

At noon today, VietinBank increased the USD price by 51 dong/USD in both directions compared to yesterday morning, buying at 24,486 dong/USD and selling at 24,906 dong/USD.

Similarly, Techcombank bought USD at 24,565 dong/USD, sold at 24,908 dong/USD, an increase of 55 dong/USD in the buying direction and an increase of 52 dong/USD in the selling direction compared to the morning of March 14.

Meanwhile, Sacombank listed the USD exchange rate at 24,530-24,995 dong/USD (buying – selling) at noon today, an increase of 53 dong/USD in both directions compared to yesterday morning.

In the same trend, the free market USD exchange rate also sharply increased after quickly declining since March 12.

This morning, the free market USD was commonly traded around 25,480-25,560 dong/USD (buying – selling). Compared to yesterday, the free market USD price today increased by 120 dong/USD in both the buying and selling directions.

Currently, the buying price of USD in the free market is still higher than at commercial banks by over 900 dong. The selling price of USD in the free market is higher at banks from 565-654 dong.

Internationally, the USD price is rising thanks to data showing that US production prices last month increased more than expected and fewer people applied for unemployment benefits. This indicates that the US Federal Reserve may reduce the number of interest rate cuts this year.

Hanh Nguyen

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