The central exchange rate announced by the State Bank today is 23,991 VND, down 32 VND compared to the previous session.

Applying a 5% margin, commercial banks today are allowed to trade at a ceiling rate of VND25,190/USD and a floor rate of VND22,791/USD.

Meanwhile, the reference buying rate is still kept by the State Bank of Vietnam at 23,400 VND/USD. The reference selling rate decreased by 34 VND compared to yesterday, to 25,140 VND/USD.

The USD/VND exchange rate at commercial banks today decreased quite sharply, some banks decreased by more than 100 VND compared to yesterday morning.

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USD prices at commercial banks drop rapidly (Photo: Hoang Giam)

Specifically, at 10:45 a.m. on January 31, Vietcombank listed the USD price at 24,240-24,610 VND/USD (buy - sell), down 100 VND/USD in both buying and selling compared to yesterday morning.

At the same time, Vietinbank traded USD at 24,190 VND/USD (buy) and 24,610 VND/USD (sell), down 85 VND/USD in both directions compared to the morning of January 30.

Techcombank buys USD at 24,258 VND/USD and sells at 24,604 VND/USD. Compared to yesterday morning, the USD price at Techcombank this afternoon decreased by 53 VND/USD in both buying and selling.

Sacombank listed the USD price at 24,240-24,705 VND/USD (buy - sell), down 40 VND/USD in both buying and selling compared to the morning of January 30.

Meanwhile, in the free market, the USD price tends to increase. Today's free USD price is commonly traded around 24,950-25,000 VND/USD (buy - sell), up 10 VND in both directions compared to the previous session.

It can be seen that the USD price in the free market is much higher than that in commercial banks. The USD buying price in the free market is about 700 VND/USD higher than that in banks, while the USD selling price in the free market is about 300-400 VND higher than that in banks.

In the international market, the USD price tends to recover after falling in the previous session. The US Dollar Index (DXY) - measuring the fluctuations of the US dollar against a basket of 6 major currencies - at 11:15 am today (January 31, Vietnam time) was at 103.62 points, up 0.22% compared to the previous session.

The free USD price increased by more than 25,000 VND. The USD price on the free market increased sharply, up to 200 VND per USD, pushing the selling price to more than 25,000 VND. Meanwhile, the USD price at many banks decreased slightly.