USD exchange rate increases in official market, decreases in "black market"

On June 20, the central exchange rate announced by the State Bank increased by 6 VND compared to June 19 to 25,031 VND/USD. With a trading band of ±5%, today's ceiling exchange rate is determined to be 26,283 VND/USD and the floor exchange rate is 23,779 VND/USD.

The reference exchange rate at the State Bank of Vietnam is 23,824 VND/USD (buy) - 26,226 VND/USD (sell).

The central exchange rate increased on October 20. Illustrative photo

At commercial banks, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ) listed the USD exchange rate at 25,922 VND/USD (buy) - 26,282 VND/USD (sell), an increase of 6 VND in both buying and selling compared to the morning of June 19.

For the Chinese Yuan, the exchange rate at Vietcombank today is 3,578 - 3,693 VND/NDT (buy - sell), up 4 VND for buying and up 5 VND for selling.

At BIDV, the CNY exchange rate increased slightly by 1 VND in both trading directions, listed at 3,583 - 3,680 VND/CNY (buy - sell).

In the "black market", the USD turned down 16 VND in both buying and selling directions, trading around 26,313 - 26,413 VND/USD.

In the US market, the DXY index is currently at 98.18 points, down 0.12%. The USD slightly decreased amid the risk of conflict spreading in the Middle East, while a series of interest rate decisions from European central banks showed the growing challenge of managing policy amid increasing uncertainty.

Previously, on June 18, after a two-day policy meeting, the US Federal Reserve (FED) decided to keep the basic interest rate unchanged amid a weakening economic growth outlook and high inflation.

Specifically, the Federal Open Market Committee (FOMC) kept the benchmark interest rate in the range of 4.25 - 4.5%, remaining stable since December 2024.

Inflation has cooled over the past three months, but significant inflation will emerge in the coming months, possibly reaching 3% by the end of this year.

The Fed still expects to cut interest rates by a total of 0.5 percentage points in 2025. However, the reduction will only be about 0.25 percentage points per year in 2026 and 2027.

Source: https://hanoimoi.vn/ty-gia-usd-tang-o-thi-truong-chinh-thuc-giam-o-cho-den-706189.html