Free dollar increased in selling direction

On the morning of May 22, the central exchange rate between VND and USD announced by the State Bank was 23,684 VND, up 4 VND compared to the end of last week. The State Bank's Transaction Office maintained the buying price at 23,400 VND/USD after decreasing by 50 VND last week; the spot selling price stood at 24,814 VND. Meanwhile, USD prices at commercial banks fluctuated in opposite directions. For example, Eximbank kept the buying price at 23,240 VND and the selling price at 23,620 VND. Vietcombank reduced the buying price by 30 VND in both directions, bringing the buying price down to 23,260 VND and the selling price to 23,630 VND...

The free USD price decreased by more than 50 VND in buying, down to 23,380 VND, but increased slightly in selling, up to 23,480 VND. This brought the difference between the free USD buying and selling prices back to 100 VND.

Free USD price on the morning of May 22 increased slightly in the selling direction

The USD price in the world market today decreased slightly when the USD-Index fell to 103.03 points, 0.2 points lower than last weekend. The USD-Index recorded a significant increase last week.

Speaking to Forbes recently, Ms. Esther Reichelt, currency strategist at Commerzbank, said that the recent strength of the USD mainly comes from the increased demand for "safe haven" in the face of "unpredictable unknowns". How serious is the vulnerability in the US regional banks and the unpredictable consequences of the US debt ceiling battle. The situation is getting more urgent for both sides as it gets closer to June 1 - the deadline by which US Treasury Secretary Janet Yellen said the country will no longer be able to pay its debts.

Some worrying signs about global economic growth may also be contributing to investors’ flight to safety. The latest figures this week showed that China’s economy underperformed in April, raising concerns not only about China’s economic outlook but also about global growth.

See also:

ECONOMIC MOVEMENT May 22: Vietnam is increasingly attractive in the eyes of foreign investors

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