In the free market, the USD price reversed its downward trend and rose sharply after falling by as much as 180 dong in both buying and selling rates in the previous session.

This morning, foreign exchange bureaus in the free market traded USD at a common rate of 25,745-25,845 VND/USD (buy - sell), an increase of 145 VND in both directions compared to the previous session.

The State Bank of Vietnam announced the central exchange rate between the Vietnamese Dong and the US Dollar today (November 7th) at 24,283 VND/USD, an increase of 25 VND compared to yesterday's rate.

With a 5% margin, commercial banks are allowed to trade today at a ceiling exchange rate of 25,497 VND/USD and a floor exchange rate of 23,069 VND/USD.

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The free market USD exchange rate has risen sharply. Photo: Hoang Ha

Meanwhile, the reference buying and selling rates for USD are still maintained by the State Bank of Vietnam's Exchange Department at the range of 23,400-25,450 VND/USD.

Today, the USD exchange rate at commercial banks saw an upward adjustment on the selling side, while the buying side moved in the opposite direction.

On the selling side, the selling price of USD at commercial banks increased by 27 dong compared to yesterday's listed rate and was listed at the ceiling rate of 25,497 dong/USD.

On the buying side, many banks adjusted the price of the US dollar upwards, but some slightly decreased it, while a few banks kept it unchanged.

This morning, Vietcombank listed the buying price of USD in cash at 25,167 VND/USD, an increase of 27 VND compared to the beginning of yesterday's trading session (November 6).

Similarly, compared to early yesterday morning, BIDV also increased the price of the US dollar by 27 dong, bringing the buying price of USD to 25,197 dong/USD. Meanwhile, VietinBank raised the buying price of USD to 25,221 dong/USD, an increase of 3 dong.

In the private banking sector, the buying price of USD showed mixed trends.

Compared to early yesterday morning, Techcombank lowered its USD buying price by 2 dong, to 25,205 dong/USD.

Meanwhile, Sacombank increased its USD buying price to 25,210 VND/USD, an increase of 40 VND.

Meanwhile, ACB and Eximbank maintained their USD buying rates from yesterday morning. ACB listed the cash USD buying rate at 25,180 VND/USD. Eximbank maintained the cash USD buying rate at 25,170 VND/USD.

The US dollar has stabilized in international markets after rising to a four-month high yesterday. The greenback surged after the US announced the results of the presidential election.

The US Dollar Index (which measures the fluctuations of the US dollar against six major currencies) was at 12:04 PM on November 7th (Vietnam time) at 104.97 points, down 0.11% from the previous session.