This morning, foreign currency exchange points on the free market traded USD at a common buying price of 25,110 VND/USD, down 90 VND compared to yesterday.

The selling price of USD at foreign exchange points also decreased by 100 VND compared to yesterday, down to 25,200 VND/USD.

Compared to the peak of 25,950-26,030 VND/USD (buy - sell) set on June 27, the free USD price has "evaporated" by over 800 VND in both buying and selling directions today.

The difference between buying and selling prices on the free market has been narrowed to about 90 VND.

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Free USD price plummets. Photo: Nam Khanh

The State Bank announced the central exchange rate between the Vietnamese Dong and the USD today at 24,212 VND/USD, down 12 VND compared to the previous session.

Yesterday, the central rate decreased by 30 VND. Thus, over the last 2 trading sessions, the central rate has been adjusted down by 42 VND.

With a 5% amplitude, the USD/VND exchange rate that commercial banks are allowed to trade on August 28 is in the range of 23,001-25,423 VND/USD.

The buying and selling exchange rates are still listed by the State Bank of Vietnam at 23,400-25,450 VND/USD.

Meanwhile, the USD price at some commercial banks was adjusted up slightly after 2 sessions of decline. The USD price at some banks yesterday lost the 25,000 VND/USD mark.

This morning, VietinBank bought and sold USD at 24,665-25,005 VND/USD, an increase of 16 VND in both buying and selling compared to late yesterday afternoon (August 27).

Meanwhile, Vietcombank traded USD cash buying price at 24,630 VND/USD, selling price at 25,000 VND/USD (buy - sell), unchanged from the listed price at the end of yesterday afternoon.

In the private joint stock commercial banking sector, the USD price at some banks was adjusted up, while some remained unchanged.

This morning, Techcombank bought USD cash at 24,648 VND/USD and sold at 25,039 VND/USD, up 14 VND in both directions compared to yesterday afternoon.

This morning, Sacombank listed the USD price at 24,660-25,000 VND/USD (buy - sell), unchanged from late yesterday afternoon.

Compared to the free market, the USD buying price at banks is 500 VND lower and the USD selling price is 200 VND lower.

In the world market, the USD price tends to recover after falling to its lowest level in more than a year.

The US Dollar Index (measuring the greenback's fluctuations against six major currencies) at 10:49 a.m. on August 28 (Vietnam time) was at 100.74 points, up 0.18% from the previous session.