The US dollar price on the free market has risen sharply, increasing by more than 200 dong. Meanwhile, the US dollar price at commercial banks continues to hit its ceiling for the third consecutive session.
Along with the sharp increase in the banking sector, the price of USD in the free market has also risen rapidly recently.
Today (October 24th), foreign exchange bureaus in the free market are trading USD at a common rate of 25,700-25,800 VND/USD (buying - selling). Compared to the previous session, the free market USD price increased by 240 VND in both buying and selling rates.
Over the past week, the US dollar price on the free market has increased by approximately 440 dong in both buying and selling rates.
Despite the rapid increase, compared to the peak of 25,950-26,030 VND/USD (buying - selling) set on June 27th, the current free market USD price is still 250 VND lower on the buying side and 230 VND cheaper on the selling side.
The State Bank of Vietnam announced the central exchange rate between the Vietnamese Dong and the US Dollar today at 24,260 VND per USD, an increase of 10 VND compared to yesterday's rate.
Applying a 5% margin, commercial banks are allowed to trade today at a ceiling exchange rate of 25,473 VND/USD and a floor exchange rate of 23,047 VND/USD.
The State Bank of Vietnam's exchange rate for USD reference increased by 10 dong compared to the previous session, reaching 25,422 dong/USD. Meanwhile, the reference rate for USD buying remained at 23,400 dong/USD.
The US dollar exchange rate at commercial banks continued to rise today, but the increase narrowed considerably compared to the hundreds of dong gains seen in the previous two sessions.
The selling price of USD at all banks today increased by 11 dong and was listed at the maximum allowed rate of 25,473 dong/USD. This is the third consecutive session that the selling price of USD at banks has reached the maximum allowed rate.
Meanwhile, the buying price of USD was adjusted slightly upwards, with a common margin of 4-20 dong compared to the beginning of yesterday morning (October 23).
Specifically, today, Vietcombank raised the buying price of USD for cash to 25,203 VND/USD, an increase of 13 VND compared to the beginning of yesterday morning.
Similarly, compared to the beginning of yesterday's trading session, the USD buying price at BIDV increased by 8 dong, reaching 25,233 dong/USD. VietinBank also raised its USD buying price to 25,238 dong/USD, an increase of 18 dong.
Techcombank increased its buying rate by 4 dong compared to the beginning of yesterday morning, reaching 25,223 dong/USD. Sacombank raised its USD buying rate to 25,230 dong/USD, an increase of 10 dong. Eximbank also increased its USD buying rate by 20 dong, reaching 25,190 dong/USD.
The buying price of USD at banks is currently about 500 VND lower, while the selling price is 327 VND lower than in the free market.
On the global market, the USD price tends to stabilize after reaching its highest level in the past two and a half months.
The US Dollar Index (which measures the fluctuations of the US dollar against six major currencies) was at 13:57 on October 24th (Vietnam time) at 104.34 points, down 0.09% from the previous session.
Source: https://vietnamnet.vn/gia-usd-tu-do-tang-manh-ngan-hang-lap-hat-trick-kich-tran-2335136.html
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