Increased by more than a hundred dong in a week

On the morning of September 24, the USD price at commercial banks continued to increase sharply this week. Specifically, Eximbank bought at VND24,130 and sold at VND24,520, up VND110 compared to the end of last week. Similarly, Vietcombank increased by VND105 after a week, bringing the buying price to VND24,160 and the selling price to VND24,530. The domestic increase was in line with the world when the USD remained high.

Vietcombank bought the euro at 25,268 VND and sold it at 26,681 VND, up 118 VND compared to the end of last week. The Japanese yen decreased slightly when Vietcombank bought it at 160.27 VND and sold it at 169.69 VND, down 17 VND compared to the end of last week...

USD price continues to increase

The international USD price continued to increase during the week. The USD-Index reached 105.55 points, up 0.17 points compared to the end of last week. The Japanese Yen continued to recover slightly but was still hovering around a low level when 1 USD was converted to 148.38 yen. The downward trend of the Japanese Yen has not stopped as the country's central bank still maintains a loose monetary policy.

Similarly, the euro on the international market is also under pressure to depreciate against the USD when it is currently converted to 1.0659 USD. Mr. Phillip Lane - Chief Economist of the European Central Bank (ECB), has just stated in the media that inflation above 2% will harm the economy and central banks are trying to control inflation in the medium term. Previously, President of the German Bundesbank - Joachim Nagel - announced that the inflation rate in the Eurozone will not decrease to the desired target of 2% and core inflation will remain high in the near future.

The ECB is expected to end its cycle of raising interest rates and keep them on hold until at least July 2014, according to economists in a recent Reuters poll. This could drag the euro down against the US dollar...

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