Foreign currency transactions at Bao Viet Commercial Joint Stock Bank’s Head Office. Illustration photo: Tran Viet/VNA
Specifically, the State Bank of Vietnam announced today’s central exchange rate at 24,265 VND/USD, up 1 VND from the previous day. With a +/- 5% margin, today’s ceiling rate is 25,478 VND/USD and the floor rate is 23,052 VND/USD.
The reference exchange rate at the State Bank of Vietnam remains at 23,400 – 25,450 VND/USD (buying – selling).
At commercial banks, at 8:18 am, Vietcombank listed the USD buying and selling prices at 25,178 – 25,478 VND/USD, up 1 VND from the previous day.
At BIDV, the buying price of USD increased by 21 VND, while the selling price increased by only 1 VND, bringing the listed exchange rate at this bank to 25,178 – 25,478 VND/USD (buying – selling).
4 Factors Putting Pressure on USD/VND Exchange Rate in Q1/2024
With the currency exchange rate fluctuating in the first few weeks of 2024, Mr. Ngo Dang Khoa, Director of Foreign Exchange, Capital Markets and Securities Services at HSBC Vietnam, highlights four factors putting pressure on the USD/VND exchange rate in Q1/2024…
Easier mortgage interest rates
Starting from the beginning of the year, banks have been implementing various low-interest credit packages, offering loans to pay off debts from other banks… with the aim of stimulating the demand for home loans.
Reflecting on a year of free-falling interest rates
Savings interest rates in 2023 witnessed a race to the lowest levels in 20 years, dropping from a peak of 12% per year for the 12-month term in early 2023 to below 5% per year by the end of the year. Let’s take a closer look at the unprecedented interest rate developments of the past year with Tiền Phong.
