(NLDO) – The price of USD in banks has decreased sharply even though the USD in the international market has recovered.
On January 23, December 24, the central exchange rate was listed by the State Bank at 24,328 VND/USD, down 4 VND compared to yesterday. This is the 4th consecutive day the central exchange rate has decreased.
On the same day, the USD price in banks and on the free market also plummeted. As of this afternoon, Vietcombank bought USD at 24,980 VND and sold at 25,340 VND, down 80 VND per USD compared to yesterday. For the fifth consecutive day, the USD price in banks has decreased.
Many other commercial banks such as BIDV, Sacombank, Agribank, TPBank… also simultaneously reduced USD transaction prices. Some banks sold USD for only 25,290 VND.
The price of USD in banks has decreased rapidly in recent days, losing nearly 300 VND in just over a week.
On the free market, foreign exchange points quoted USD buying price at 25,470 VND, selling price at 25,570 VND - stable compared to yesterday. Currently, the difference between bank USD price and free USD price is only a few hundred VND.
USD price at banks plummets
The movement of USD bank prices is contrary to the world's recovery trend. In the international market, the USD index is trading at 108.2 points, a slight recovery compared to the 107.9 point mark in the previous session.
However, the US dollar has lost some strength in the past few days as investors turned to the safer haven of gold, amid concerns about the impact of new tariffs that the US President will apply to imported goods from Mexico, Canada and China.
According to analysts, the USD/VND exchange rate is under pressure from the high USD during the term of US President Donald Trump.
However, there are still many factors causing the exchange rate to cool down, including the strong flow of remittances into Vietnam.
Statistics from the State Bank of Vietnam, Ho Chi Minh City branch, collected from 6 remittance companies with large turnover (always accounting for about 94% of the total remittance volume in Ho Chi Minh City) show that the amount of remittances transferred in the first 20 days of 2025 in the area reached 492.7 million USD.
Accumulated from the beginning of 2024 to present, the total amount of remittances transferred to Ho Chi Minh City has exceeded 10.03 billion USD.
According to Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, the amount of remittances sent back on the occasion of the traditional Tet holiday and the amount of remittances sent back reached the threshold of 10 billion USD by the end of January 2025. This is an impressive result when compared to the total foreign direct investment and compared to the proportion with GRDP of Ho Chi Minh City in 2024. The strong inflow of remittances contributes to increasing the supply of foreign currency, reducing pressure on the exchange rate at the end of the year.
Source: https://nld.com.vn/chieu-24-tet-gia-usd-ngan-hang-tiep-tuc-lao-doc-196250123150731594.htm
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