On the morning of March 17.3, USD prices at commercial banks recorded a weekly increase. For example, Vietcombank bought 24.520 VND and sold 24.890 VND, an increase of 50 VND compared to last week. Meanwhile, Eximbank increased 80 VND after a week, bringing the buying price to 24.490 VND, selling price to 24.880 VND... This is the high level of the USD/VND exchange rate in the banking system but still lower than the peak in 2022 by about 150 VND. copper.
On the contrary, the euro price turned down as Vietcombank bought 26.232 VND, sold 27.671 VND, down 71 - 75 VND compared to last weekend...
USD price increased throughout the week
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) was announced by the State Bank at the end of the week at 23.979 VND/USD, an increase of 10 VND compared to the beginning of the week. The State Bank has had 5 consecutive days of issuing bills on the interbank market and attracting nearly 75.000 billion VND. This move is considered one of the solutions to increase VND interest rates in the interbank market, helping to reduce the interest rate difference between the USD and VND to reduce pressure on the exchange rate. In a recent analysis report, Dragon Capital stated that this issuance of treasury bills is a necessary management move in cooling down exchange rates. At the same time, this organization also emphasized that the above move does not mean a change in monetary policy.
The world USD price increased again when the USD-Index stood above 103 points. At the end of the week, the USD-Index reached 103,06 points, 0,4 points higher than last weekend. Recent reports on the US consumer and producer price index in February were higher than expected, showing that inflation remains high, hindering the Bureau's ability to cut interest rates from next June. US Federal Reserve (Fed).
The Fed will meet next week and is not expected to make any moves related to interest rate cuts. At the same time, investors have also reduced their expectations of the Fed cutting interest rates in the near future.
