The central exchange rate announced by the State Bank today is 23,976 VND, up 28 VND compared to the previous session.

Applying a 5% margin, commercial banks today are allowed to trade at a ceiling rate of VND25,175/USD and a floor rate of VND22,777/USD.

Meanwhile, the reference buying rate was kept unchanged by the State Bank of Vietnam at 23,400 VND/USD. The reference selling rate increased by 29 VND compared to yesterday, to 25,124 VND/USD.

The USD/VND exchange rate at commercial banks today increased quite strongly, some banks increased by more than 100 VND compared to yesterday morning. Some banks sold USD at over 24,700 VND/USD.

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Bank USD price increases sharply (Photo: Hoang Ha)

Specifically, at 11:00 a.m. on January 12, Vietcombank listed the USD price at 24,320-24,690 VND/USD (buy - sell), an increase of 110 VND/USD in both buying and selling compared to yesterday morning.

At the same time, Vietinbank traded USD at 24,270 VND/USD (buy) and 24,690 VND/USD (sell), an increase of 75 VND/USD in both directions compared to the morning of January 11.

Techcombank buys USD at 24,333 VND/USD and sells at 24,679 VND/USD. Compared to yesterday morning, the USD price at Techcombank this afternoon increased by 67 VND/USD in both buying and selling.

Sacombank listed the USD price at 24,290-24,705 VND/USD (buy - sell), an increase of 60 VND/USD for buying and 55 VND/USD for selling compared to the morning of January 11.

In the free market, the USD price today is commonly traded around 24,750-24,850 VND/USD (buy - sell), unchanged from the previous session.

Thus, the USD price in the free market is much higher than that in commercial banks. The USD buying price in the free market is over 400 VND/USD higher than that in banks, while the USD selling price in the free market is about 145-160 VND higher than that in banks.

In the international market, the USD price weakened. The US Dollar Index (DXY) - measuring the fluctuations of the US dollar against a basket of 6 major currencies - at 11:38 am today (January 12, Vietnam time) was at 102.26 points, down 0.03% compared to the previous session.

The USD price fell after the US announced that the inflation index (CPI) in December 2023 increased more than expected. This raised doubts in the market that the US Federal Reserve (Fed) will cut interest rates later.

USD bank prices drop rapidly following world prices USD prices at commercial banks today (December 22) dropped rapidly following world prices, falling close to 24,400 VND/USD (selling). The world USD price has hit its lowest level in a week. The central exchange rate has also gone down.