Free USD price turns to decrease rapidly, selling price is lower than bank price

Specifically, after a sharp increase yesterday (October 11), reaching 24,730 VND/USD, the USD price on the free market today turned to a sharp decrease. Currently, it is commonly traded around 24,500-24,550 VND/USD (buy - sell), down 130 VND/USD in the buying direction and down 180 VND in the selling direction compared to yesterday.

Although the price of USD on the free market has decreased significantly, it is still about 200 VND per USD higher than the price of USD at commercial banks. The price of USD on the free market is lower than the price of USD at commercial banks.

The central exchange rate announced by the State Bank today (October 12) is 24,067 VND/USD, an increase of 2 VND compared to yesterday.

Applying a 5% margin, commercial banks are allowed to trade at today's ceiling rate of VND25,526/USD and the floor rate of VND22,863/USD.

The reference buying rate is still maintained by the State Bank of Vietnam at 23,440 VND/USD. The reference selling rate today increased by 2 VND compared to yesterday, listed at 25,220 VND/USD.

USD/VND exchange rate at commercial banks today fluctuated little. Some banks adjusted USD buying and selling prices within a narrow range.

Specifically, at 10:04 a.m. on October 12, Vietcombank listed the USD price at 24,230-24,600 VND/USD (buy - sell), an increase of 5 VND/USD in both buying and selling compared to yesterday afternoon.

At the same time, VietinBank traded USD at 24,193 VND/USD (buy) and 24,613 VND/USD (sell), unchanged from yesterday afternoon.

Techcombank bought USD at 24,268 VND/USD and sold at 24,605 VND/USD. Compared to yesterday afternoon, the USD price at Techcombank this morning remained the same for buying and decreased by 5 VND for selling.

usd price today 9/29/2023 1 1176.jpg — Free USD price turns to decrease rapidly (Photo: Bloomberg)

Meanwhile, Sacombank bought and sold USD at 24,237-24,592 VND/USD, an increase of 7 VND/USD in both buying and selling compared to the afternoon of October 11.

In the international market, the USD price decreased slightly today. The USD weakened due to the decrease in US Treasury bond interest rates while bond prices increased. In addition, the US Federal Reserve (Fed)'s temporary suspension of interest rate increases also caused the USD to lose its upward momentum.

The US Dollar Index (DXY) - measuring the greenback's fluctuations against six major currencies - at 10:32 a.m. on October 12, Vietnam time, was at 105.7 points, down 0.12% from the previous session.

The free USD price increased sharply, exceeding 24,700 VND . The USD price in the free market today increased sharply, exceeding 24,700 VND/USD. The central exchange rate and USD price at commercial banks also increased. The USD selling price at some banks exceeded 24,600 VND.

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