The free market USD exchange rate continues to fall.

The US dollar exchange rate on the free market fell by 45 dong in both directions, to 25,450 - 25,530 dong, the lowest level since mid-April.

This morning, August 16th, foreign exchange bureaus in the market simultaneously lowered the buying and selling prices of the US dollar. The selling price of USD at some foreign exchange bureaus on Ha Trung Street ( Hanoi ) decreased by 45-50 dong compared to yesterday, down to 25,530-25,550 dong - the lowest level since mid-April. The buying price of 1 USD was around 25,440-25,450 dong.

The free market exchange rate has started to fall sharply over the past month, especially since Last weekend, compared to the peak of nearly 26,000 VND set at the end of June, the free market USD price is currently 450-470 VND lower, equivalent to a decrease of nearly 2%.

Meanwhile, exchange rates rose slightly in the interbank market. Vietcombank increased both buying and selling rates by 40 dong compared to the closing rate on August 15th, reaching 24,880 - 25,250 dong. However, compared to the end of last week, this bank's exchange rate decreased by about 30 dong in both directions.

Similarly, BIDV , Techcombank, and VietinBank also adjusted their exchange rates for the US dollar today. Each USD was sold by these banks at around 25,235-25,250 VND.

USD transaction at a commercial bank counter in Ho Chi Minh City, November 2022. Photo: Thanh Tung

On the international market, the USD Dollar Index – a measure of the strength of the greenback – is at 102.98 points, lower than the level of over 103 points at the end of last week.

The strength of the US dollar has recently declined as the US economy shows signs of weakening, and inflation is lower than expected. This raises concerns about the risk of a crisis and the possibility that the Federal Reserve (Fed) will cut interest rates more aggressively in the near future.

The US consumer price index (CPI) rose 2.9% in July – the first time it has fallen below 3% since 2021. This further strengthens the likelihood of the Fed cutting interest rates at its September meeting.

Earlier, job growth in July in the world's largest economy was also significantly slower than forecast, while the unemployment rate rose to its highest level since October 2021.

Source: https://baoquangninh.vn/gia-usd-tu-do-tiep-tuc-giam-3314270.html