USD price hits ceiling

The USD/VND exchange rate this morning increased to the maximum range, reaching a new peak of 26,345 VND per USD.

On the morning of July 3, the State Bank announced the central exchange rate at 25,091 VND, up 21 VND compared to yesterday. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,837 - 26,345 VND.

Commercial banks also raised the USD price to the ceiling price allowed at the beginning of the day, which is also a new record. Vietcombank listed the exchange rate at 25,975 - 25,345 VND. As for BIDV , the USD price this morning increased to 26,006 - 25,345 VND. Eximbank listed the USD price around 25,990 - 26,345 VND. Thus, the USD price at banks has increased by more than 3.1% compared to the beginning of the year.

On the free market, foreign exchange points list USD buying and selling prices around 26,370 - 26,470 VND per USD.

The USD Index, which measures the strength of the greenback, is currently hovering around 96.9 points, down 10% from the beginning of the year.

The short-term weakness of the dong is explained by experts as stemming from increased demand for foreign currency from businesses and pressure from expectations of poor growth due to the impact of tariffs.

However, according to VDSC, in the second half of this year, the balance of foreign currency supply and demand will remain tense as the trade surplus has gradually decreased in recent months. Foreign investment flows may shift as the tariff story becomes clearer and growth pressure leads to a boost in credit and public investment. From there, concerns about inflation expectations in the future will increase the need to store USD.

HA (according to VnE)

Source: https://baohaiphongplus.vn/gia-usd-tang-kich-tran-415519.html