USD prices in banks increased sharply before the Fed announced its interest rate decision.

The US dollar exchange rate at commercial banks has risen sharply.

Today, the central exchange rate of the Vietnamese Dong against the US Dollar, announced by the State Bank of Vietnam, is 24,151 VND per USD, an increase of 10 VND compared to yesterday's rate.

Applying a 5% margin, commercial banks are allowed to trade the USD exchange rate today within the range of 22,943-25,359 VND/USD.

The State Bank of Vietnam's exchange rate for buying USD remains at 23,400 VND/USD. Meanwhile, the selling rate for USD has been adjusted upwards by 10 VND compared to yesterday, reaching 25,308 VND/USD.

At commercial banks, the USD/VND exchange rate has also been adjusted sharply upwards.

As of 2:47 PM on September 18th, Vietcombank listed the cash USD exchange rate at 24,480 VND/USD for buying and 24,850 VND/USD for selling, an increase of 130 VND in both buying and selling rates compared to the beginning of yesterday morning (September 17th).

Similarly, the USD exchange rate at other banks also increased sharply, with many banks charging more than 100 dong more than yesterday morning.

Compared to early yesterday morning, BIDV raised the USD price by 120 dong this afternoon in both buying and selling directions, trading at 24,500-24,840 dong/USD (buying - selling).

VietinBank also raised its USD buying and selling rates to 24,509-24,849 VND/USD, an increase of 119 VND in both directions.

Meanwhile, Techcombank increased its buying price for cash USD to 24,473 VND/USD and its selling price to 24,864 VND/USD, an increase of 78 VND in the buying rate and 75 VND in the selling rate.

Sacombank raised the USD exchange rate to 24,520-24,850 VND/USD (buying - selling), an increase of 130 VND on the buying side and 100 VND on the selling side.

Meanwhile, the USD price in the free market adjusted downwards.

Today, the US dollar is being bought at a common rate of 24,850 VND/USD and sold at 24,950 VND/USD at foreign exchange bureaus. Compared to the previous session, the free market US dollar price decreased by 50 VND in both buying and selling rates.

The gap between the USD exchange rate in the free market and the banking channel has narrowed. The buying price of USD in the free market is now only about 300 VND higher, while the selling price is about 100 VND higher than the USD price at banks.

On the global market, the USD price remained relatively stable. The US Dollar Index (a measure of the dollar's strength against other major currencies) reached 100.83 points at 3:30 PM on September 18th (Vietnam time), down 0.07% from the previous session.

Global financial markets are eagerly awaiting the US Federal Reserve's policy decision, with expectations that it will lower interest rates for the first time in over four years.

The Fed began its two-day meeting (starting on the evening of September 17th, Vietnam time). Based on signals from the Fed and the market, the Fed may cut its benchmark interest rate for the first time since March 2020. Prior to this meeting, the Fed had raised interest rates 11 times, bringing them to the current level of 5.25-5.5%.

TH (according to Vietnamnet)

Source: https://baohaiduong.vn/gia-usd-ngan-hang-tang-manh-truc-thoi-diem-fed-cong-bo-quyet-dinh-lai-suat-393421.html