After hitting a record on April 22 at 25,770-25,870 VND/USD, on April 23, the USD price on the free market started to decline.
On April 23, the free market USD price dropped 40 VND in both buying and selling prices compared to the previous session. Today (April 24), the free market USD price continues to fall sharply.
Foreign exchange trading points on the free market this morning are buying USD at a common price of 25,520 VND, the selling price is 25,700 VND.
Compared to the previous session, the free market USD price today decreased by 210 VND for buying and decreased by 130 VND for selling.
Compared to the peak price set on April 22, the free market USD price today has “evaporated” by 250 VND/USD for buying and decreased by 170 VND/USD for selling.
 USD price cools down. Photo: Hoang Ha |
In the official market, the USD price also tends to cool down.
The central exchange rate announced by the State Bank today is 24,274 VND/USD, a decrease of 1 VND compared to yesterday.
Applying a margin of 5%, commercial banks are allowed to trade today with a ceiling price of 25,487 VND/USD and a floor price of 23,060 VND/USD.
The buying and selling rates continue to be kept by the State Bank of Vietnam within the trading range of 23,400-25,450 VND/USD.
The USD/VND exchange rate at commercial banks is decreasing. However, all banks are raising the USD selling price to the ceiling level.
According to a survey at 10:30 AM on April 24, Vietcombank listed the USD price at 25,147-25,487 VND/USD (buy – sell), a decrease of 1 VND in both buying and selling prices compared to yesterday morning (April 23).
VietinBank this morning bought and sold USD at a price of 25,180-25,487 VND/USD, unchanged for buying and decreased by 1 VND for selling compared to the morning of April 23.
In the private joint-stock commercial bank sector, Techcombank bought USD at 25,222 VND/USD, sold at 25,487 VND/USD, decreased by 10 VND for buying and decreased by 1 VND for selling compared to yesterday morning.
Meanwhile, Sacombank listed the USD price at 25,248-25,487 VND/USD (buying – selling), down 12 VND for buying and down 1 VND for selling compared to yesterday morning.
The USD buying price at the bank is currently lower by about 300-400 VND, and the USD selling price is also lower by 213 VND compared to the free market.
In the global market, the USD price also tends to decline.
The US Dollar Index (which measures the movement of the greenback against 6 major currencies) has slipped below 106 points. The US Dollar Index at 10:49 AM on April 24, Vietnam time, was at 105.67 points, down 0.01% compared to the previous session.
USD fell after data showed US business activity declined in April to a 4-month low, amid weaker demand.
Hanh Nguyen
