On Monday, foreign currency exchange shops on the black market traded USD at a common buying price of 25,110 VND/USD, a decrease of 90 VND compared to yesterday.
The selling price of USD at these shops also dropped by 100 VND from yesterday, settling at 25,200 VND/USD.
Compared to the peak of 25,950-26,030 VND/USD (buying-selling) on June 27th, the black market USD rate has plummeted by over 800 VND in both buying and selling directions as of today.
The gap between buying and selling rates in the black market has narrowed to around 90 VND.
Black market USD rate plummets. Photo: Nam Khánh |
The State Bank of Vietnam announced the central exchange rate between the Vietnamese Dong and USD at 24,212 VND/USD today, a decrease of 12 VND from the previous session.
In the previous session, the central rate fell by 30 VND. Thus, in the last two trading sessions, the central rate has been adjusted downward by 42 VND.
With a 5% fluctuation band, the USD/VND exchange rate traded by commercial banks today is allowed within the range of 23,001-25,423 VND/USD.
Meanwhile, the buying and selling rates remain listed by the State Bank of Vietnam’s Trading Center at 23,400-25,450 VND/USD.
In contrast, USD rates at some commercial banks have slightly increased after two sessions of sharp declines. USD rates at some banks yesterday fell below the 25,000 VND/USD mark.
This morning, VietinBank’s USD buying and selling rates were 24,665-25,005 VND/USD, an increase of 16 VND in both directions compared to the end of the previous session (August 27th).
Vietcombank traded USD cash buying rate at 24,630 VND/USD and the selling rate at 25,000 VND/USD (buying-selling), unchanged from the end of the previous session.
In the privately-owned joint-stock commercial bank bloc, USD rates at some banks were adjusted upward, while others remained unchanged.
Techcombank this morning bought USD cash at 24,648 VND/USD and sold at 25,039 VND/USD, an increase of 14 VND in both directions from the previous session.
Sacombank listed USD rates at 24,660-25,000 VND/USD (buying-selling), unchanged from the end of the previous session.
Compared to the black market, the USD buying rate at banks is currently lower by 500 VND, while the selling rate is 200 VND lower.
In the global market, the USD is showing signs of recovery after falling to its lowest level in more than a year.
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of six major currencies, stood at 100.74 points at 10:49 am on August 28th (Vietnam time), up 0.18% from the previous session.
Hanh Nguyen
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