USD prices at commercial banks increased sharply, 95-100 VND higher than yesterday morning. The USD price on the free market continued to climb, over two sessions it increased to 180 VND/USD on the buying side and 150 VND/USD on the selling side.
After a slight decrease yesterday, the USD/VND exchange rate at many commercial banks today was adjusted to increase sharply, 95-100 VND higher than yesterday morning.
Specifically, at 11:09 a.m. on February 22, Vietcombank listed the USD price at 24,390-24,760 VND/USD (buy – sell), an increase of 100 VND/USD in both buying and selling compared to yesterday morning. (February 21).
VietinBank also raised the USD price to 95 VND/USD in both directions compared to yesterday morning, buying at 24,353 VND/USD and selling at 24,773 VND/USD.
Similarly, Techcombank bought USD at 24,418 VND/USD, sold at 24,764 VND/USD, an increase of 90 VND/USD in both buying and selling compared to the morning of February 21.
Sacombank listed the USD price at 24,395-24,860 VND/USD (buy – sell), an increase of 95 VND/USD in both directions compared to yesterday morning.
USD price at commercial banks increased sharply. Photo: Hoang Giam
With the same trend, USD price on the free market continues to increase.
The free USD price this morning is commonly trading around 25,150-25,220 VND/USD (buy – sell). Compared to the previous session, the free USD price today increased by 120 VND/USD on the buying side and increased by 90 VND/USD on the selling side.
Yesterday’s session, the free USD price increased by 60 VND/USD in both buying and selling directions. Thus, over 2 sessions, the free USD price increased by 180 VND/USD on the buying side and 150 VND/USD on the selling side.
The USD buying price on the free market is higher than at commercial banks, over 700 VND/USD. The selling price of USD on the free market is more than 400 VND higher than the selling price of USD at commercial banks.
Meanwhile, the central exchange rate turned down after increasing continuously since the beginning of the week.
The central exchange rate announced by the State Bank on February 22 was at 23,981 VND/USD, down 12 VND compared to yesterday’s listed rate.
Applying a margin of 5%, commercial banks are allowed to trade at today’s ceiling rate of 25,180 VND/USD and the floor rate of 22,782 VND/USD.
The selling exchange rate was also reduced by 12 VND by the State Bank’s Exchange, bringing the buying – selling range to 23,400-25,130 VND/USD.
On the international market, USD prices continue to go down. The USD weakened after the release of the minutes of the US Federal Reserve’s (Fed) January meeting showed that policymakers are concerned about the possibility of cutting interest rates too soon. Fed officials warned that they want more evidence that inflation will continue to cool.
The US Dollar Index (DXY) – measuring the fluctuation of the greenback with 6 major currencies – at 12:05 a.m. on February 22 (Vietnam time) was at 103.91 points, down 0.09% compared to with the previous session.
