Record high bank USD price

The State Bank of Vietnam today (March 15) listed the central exchange rate at 23,979 VND/USD, an increase of 12 VND compared to yesterday's rate.

Applying a 5% margin, commercial banks are allowed to trade at today's ceiling exchange rate of 25,178 VND/USD and the floor exchange rate of 22,780 VND/USD.

Currently, the selling price of USD at banks has reached 24,900 VND/USD, surpassing the peak of 24,888 VND/USD recorded on October 25, 2022.

Specifically, at 4 PM on March 15th, Vietcombank listed the USD exchange rate at 24,540 - 24,910 VND/USD (buy - sell), an increase of 60 VND/USD in both buying and selling rates compared to yesterday morning.

VietinBank also raised the USD price by 50 VND/USD in both buying and selling rates compared to yesterday morning, with the buying rate at 24,485 - 24,905 VND/USD (buy - sell).

BIDV listed the USD exchange rate at 24,480 - 24,890 VND/USD (buy - sell).

Similarly, Techcombank listed the USD at 24,565 - 24,908 VND/USD (buy - sell), an increase of 55 VND/USD in the buying rate and 52 VND/USD in the selling rate compared to yesterday morning.

On the free market, the USD price also rose sharply today after several days of decline. Specifically, the common free market USD exchange rate is around 25,480 - 25,560 VND/USD (buy - sell). Compared to yesterday, the free market USD price today increased by 120 VND/USD in both buying and selling rates.

Currently, the buying price of USD in the free market remains more than 900 VND higher than at commercial banks. Meanwhile, the selling price of USD in the free market is 565-654 VND higher than at banks.

On the international market, the USD rose, driven by data showing that US producer prices increased more than expected last month and fewer people filed for unemployment benefits. This suggests that the US Federal Reserve (Fed) may reduce the number of interest rate cuts this year.

The US Dollar Index (DXY) – which measures the fluctuations of the greenback against six major currencies – was at 11:14 AM on March 15th (Vietnam time) at 103.44 points, up 0.08% from the previous session.

Hao Nhien

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