The foreign currency exchange points in the free market this morning traded USD at a common rate of 24,990-25,080 VND/USD (buy-sell), a decrease of up to 150 VND on the buying side and 160 VND on the selling side compared to the previous session.
Compared to the peak of 25,950-26,030 VND/USD (buy-sell) set on June 27th, the free-market USD rate has since dropped by 960 VND on the buying side and 950 VND on the selling side.
The gap between the buying and selling rates in the free market has narrowed to 90 VND.
In the official market, the State Bank of Vietnam this morning set the daily reference exchange rate at 24,172 VND/USD, a decrease of 15 VND from the previous day.
With a permitted trading band of +/- 5%, the ceiling and floor rates applicable to commercial banks for the day are 22,963 VND/USD and 25,381 VND/USD, respectively.
 USD free-market rate drops sharply. Photo: Hoang Ha |
The State Bank’s buying rate remains at VND 23,400/USD, while the selling rate decreased by 16 VND from the previous day to VND 25,330/USD.
Meanwhile, USD rates at commercial banks showed mixed movements. While some banks saw a recovery trend after a sharp drop yesterday, others continued the downward trend.
As of 11:20 AM on September 13th, Vietcombank listed its buying and selling rates for cash USD at 24,360 VND/USD and 24,730 VND/USD, respectively, an increase of 10 VND from the previous day’s opening rates.
Similarly, BIDV increased its USD buying and selling rates by 10 VND from the previous day’s opening rates, quoting them at 24,400-24,740 VND/USD (buy-sell).
On the other hand, some other banks slightly lowered their USD rates.
VietinBank, at 11:15 AM, listed its buying and selling rates at 24,383-24,723 VND/USD, a decrease of 37 VND from the previous day’s opening rates.
Techcombank’s buying and selling rates for cash USD were 24,353 VND/USD and 24,749 VND/USD, respectively, a decrease of 35 VND from the previous day’s opening rates.
Sacombank’s USD buying and selling rates were quoted at 24,400-24,730 VND/USD, unchanged on the buying side but a decrease of 20 VND on the selling side compared to the previous day’s opening rates.
Compared to the free market, the buying rates at commercial banks are currently lower by 600 VND, while the selling rates are nearly 400 VND lower.
In the global market, the US dollar weakened ahead of the Federal Reserve’s decision on interest rates next week.
The USD fell as the euro surged after the European Central Bank (ECB) cut interest rates.
Hanh Nguyen
An Ambitious Long-Term Partner Seeks to Increase Investment in HAH.
On September 12, Marina Logistics – a leading multi-modal transport and agency company – announced its purchase of 600,000 HAH shares. This strategic move elevated their ownership stake to an impressive 3.922%. Not content to rest on their laurels, Marina Logistics immediately set their sights on further expansion, registering to buy an additional 650,000 shares with the ambitious goal of reaching a 4.457% stake.
Urgent Debt Relief and Loan Continuity to Empower Citizens and Businesses to Recover from Storm Disruption.
The residents of the provinces affected by Storm Yagi, including Quang Ninh, Hai Phong, Hanoi, Lao Cai, Yen Bai, and Phu Tho, will be offered debt relief through extended repayment deadlines, interest rate waivers, and new loan opportunities.
5 Strategies to Revive Business Operations Post-Natural Disasters
Preliminary statistics from the State Bank’s Quang Ninh and Hai Phong branches reveal a significant impact on outstanding debt in the aftermath of Storm No. 3, particularly in the fields of production, business, trade, industry, and construction.
The Greenback’s Freefall: A Golden Opportunity for Vietnam’s State Treasury to Bulk Up FX Reserves
The State Bank of Vietnam (SBV) has been actively purchasing foreign currencies, particularly US dollars, amidst a backdrop of significant declines in the USD/VND exchange rate over recent weeks.
