Today (March 13), the free USD price continues to decline. After two sessions, the free USD price decreased by 180 VND on the buying side and 150 VND on the selling side, around 25,320-25,550 VND/USD. Meanwhile, USD prices at banks tend to go up.
Today’s free USD price is bought at around 25,320 VND/USD by foreign currency buying points, and sold at 25,550 VND/USD. Compared to yesterday, the free USD price today decreased by 160 VND on the buying side and 50 VND on the selling side.
Yesterday’s free USD price also decreased by 20 VND on the buying side and 100 VND on the selling side.
From yesterday to today, the free USD price has decreased by 180 VND on the buying side and 150 VND on the selling side.
From last week to March 11, the USD price on the free market increased sharply and continuously set historical peaks.
By March 11, the USD/VND exchange rate in this market had set a new high record: 25,500-25,700 VND/USD (buy – sell). The selling price of USD on the free market on March 11 increased by 1,000 VND compared to the end of 2022.
Free USD prices before the March 12 session increased rapidly while USD prices at banks remained stable. This makes the USD price difference on the free market and banks very large. At times, this difference was more than 1,000 VND.
The situation of foreign currency hoarding is said to be the reason why the USD price on the free market has a large difference with banks.
On March 11, the State Bank (SBV) took action to respond to exchange rate fluctuations in the free market by offering to sell T-bills again, after a 4-month suspension.
Bank USD price goes up. Photo: Hoang Ha
After 2 sessions (March 11-12), the State Bank has withdrawn nearly 30,000 billion VND out of the banking system through the T-bill channel with a term of 28 days, the winning interest rate is 1.4%/year.
According to analysts, this move is intended to cool down the hot rise of the VND/USD exchange rate. Issuing T-bills, absorbing liquidity in the market 2 increases VND interest rates, reducing pressure on USD speculation in the short term.
In fact, right after the State Bank moved to withdraw money through the treasury bill channel, the free USD price dropped sharply in the last two sessions.
Meanwhile, the USD/VND exchange rate at commercial banks increased today.
At the end of today, Vietcombank listed the USD price at 24,450-24,820 VND/USD (buy – sell), an increase of 20 VND compared to yesterday (March 12).
Vietinbank traded USD at the price of 24,436 VND/USD (buying) and 24,856 VND/USD (selling), an increase of 43 VND compared to noon on March 12.
Similarly, Techcombank at the end of today’s session bought and sold USD at the price of 24,508-24,852 VND/USD, an increase of 42 VND.
Sacombank listed the USD price at 24,478-24,943 VND/USD (buy – sell) at the end of the session, an increase of 43 VND compared to yesterday afternoon.
Compared to the free market, the buying price of USD at banks is 800-900 VND lower, and the selling price of USD is also 600-700 VND lower.
The central exchange rate on March 13 was raised by the State Bank to 23,957 VND, an increase of 2 VND compared to the previous session.
Applying a margin of 5%, commercial banks on March 13 were allowed to trade at the ceiling exchange rate of 25,155 VND/USD and the floor exchange rate of 22,759 VND/USD.
The reference selling rate was raised by the SBV Exchange by 3 VND compared to yesterday, to 25,105 VND/USD, while the reference buying rate is still maintained at 23,400 VND/USD.
On the world market, USD prices increased again after information that US consumer prices accelerated in February.
The US Dollar Index (DXY) – measuring the fluctuations of the US dollar against a basket of 6 major currencies – at 4:42 p.m. today (March 13, Vietnam time) was at 103.02 points, up. 0.06% compared to the previous session.
