Australian dollar price Vietinbank, Vietcombank increased; AUD BIDV, TPBank decreased

Domestic AUD exchange rate developments; AUD exchange rate today February 26, 2024

Today, February 26, 2024, the AUD exchange rate is applied according to the level announced by the State Foreign Exchange Reserve Management Department at the buying - selling rate of 14,941 - 16,514 VND/AUD.

The State Bank determines the cross exchange rate of VND/AUD applied to calculate export tax and import tax effective from February 22, 2024 to February 28, 2024 is 15,746 VND/AUD.

At Vietcombank, compared to the AUD exchange rate at the same time yesterday morning, this morning, the Australian dollar price was adjusted to increase. The Australian dollar buying price was 15,738 VND/AUD, an increase of 21 VND; and the selling price was 16,407 VND/AUD, also an increase of 21 VND.

AUD exchange rate today 26/2/2024 at Vietcombank

Comparing the Australian Dollar (AUD) exchange rate between the 12 largest banks in Vietnam, today February 26, 2024, the AUD exchange rate in the buying direction has 3 banks increasing the buying price, 3 banks decreasing the buying price and 6 banks keeping the buying price unchanged compared to yesterday.

Meanwhile, in the selling direction, 2 banks increased their selling prices, 3 banks decreased their selling prices and 7 banks kept their selling prices unchanged compared to yesterday.

Today, Sacombank bought Australian Dollars (AUD) at the highest price of 15,948.00 VND/AUD. The lowest selling Australian Dollars (AUD) was Vietnam Prosperity Bank at 15,827.00 VND per AUD.

Today, February 26, 2024, Vietinbank bought Australian dollars at 15,922 VND/AUD and sold Australian dollars at 16,472 VND/AUD. Compared to early yesterday morning, the Australian dollar price increased by 76 VND in cash buying and slightly increased by 6 VND in selling.

On the contrary, today BIDV Bank bought Australian dollars at 15,821 VND/AUD and sold at 16,368 VND/AUD. Compared to yesterday morning, the Australian dollar price at this Bank decreased by 38 VND in cash buying and decreased by 39 VND in cash selling.

AUD exchange rate today 26/2/2024 surveyed at some banks

Australian dollar exchange rate at market price on February 26, 2024

Surveying the black market, in the trading session this morning, February 26, 2024, the AUD buying price on the black market decreased compared to yesterday's session (February 25) at 16,312 VND/AUD; the selling price was 16,412 VND/AUD.

AUD exchange rate today 26/2/2024 at the price market

Forecast of Australian dollar future trend

The Australian dollar (AUD) is rising against a number of its peers this morning amid upbeat forecasts on the Reserve Bank of Australia's (RBA) monetary policy outlook.

Australian wage growth in the fourth quarter of 2023 was slightly higher than market expectations, a surprise development that could give the RBA more room to maintain high interest rates for longer, without having to rush to cut rates. The Australian dollar has benefited from growth in recent sessions.

The Australian dollar performed well after the Australian Bureau of Statistics (ABS) reported wage growth of 0.9% in the fourth quarter of 2023, bringing the annual increase to 4.2%, beating market expectations of 4.1%.

Wage growth is falling short of the RBA’s target of returning inflation to 2.0%. However, policymakers will be pleased that Q4 growth slowed from Q3’s 1.3%.

“We still expect the RBA to hold rates at 4.35% until November,” said Catherine Birch, an economist at ANZ Bank. “A November rate cut would be a surprise to markets, which had been expecting a rate cut around June.”

If ANZ’s predictions are correct, the market price will have to adjust in the direction of strengthening the Australian dollar. After the release of the wage data, we saw the exchange rate of the Australian dollar adjusted up continuously, compared to the Vietnamese dong as well as other foreign currencies.

ANZ said the RBA would remain vigilant as economists there expect wage growth to remain above 4% per year in the first half of 2024, before tapering off in the second half.

The data also confirmed that annual real wage growth was positive for the first time since Q1 2021 (+0.1% year on year). Lower inflation, higher nominal wage growth and upcoming tax and interest rate cuts will support households into 2024, says Catherine Birch.

In addition, comments that the Australian economy remains resilient despite high interest rates have also added strength to the AUD exchange rate in recent sessions.

Ross McEwan, outgoing CEO of National Australia Bank Limited, offered an optimistic outlook for the Australian economy in a recent statement: “‘While economic growth has slowed, the Australian economy remains resilient and the majority of our customers are doing well. We remain optimistic about the outlook and our bank is in good shape as Andrew Irvine transitions to CEO in the coming months.”

Looking ahead, the latest preliminary Purchasing Managers’ Index (PMI) report from Australia is due to be released, with a forecast of a manufacturing PMI increase to 50.9 in February, which could underpin the Australian dollar. Similarly, the services PMI is also forecast to have increased activity this month, to 50.2. If the data comes in as expected, it could boost investor sentiment towards the Australian dollar.

Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian dollars in Hanoi:

1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi

4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan District, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi

6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi

7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi

10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB

Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian dollars in Ho Chi Minh City:

1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City

2. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City

3. Kim Mai Gold Store - 84C Cong Quynh, Pham Ngu Lao Ward, District 1, Ho Chi Minh City

4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City

5. Kim Chau Gold Shop - No. 784 Dien Bien Phu, Ward 10, District 10, Ho Chi Minh City

6. Kim Tam Hai Store – No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City

7. Mi Hong Gold and Gemstones - 306 Bui Huu Nghia, Ward 2, Binh Thanh District, Ho Chi Minh City

8. Kim Hung foreign exchange agency – No. 209 Pham Van Hai, Binh Chanh district, Ho Chi Minh City

* Information is for reference only.

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