The State Bank announced the central exchange rate of the Vietnamese Dong against the USD on August 26 at 24,254 VND, an increase of 4 VND compared to the listed rate last weekend.

Applying a 5% margin, commercial banks today are allowed to trade at a ceiling rate of VND25,467/USD and a floor rate of VND23,041/USD.

Meanwhile, the reference USD buying and selling exchange rate is still maintained by the State Bank of Vietnam at around 23,400-25,450 VND/USD.

At commercial banks, the USD/VND exchange rate today was adjusted down sharply. All banks simultaneously reduced by more than 100 VND compared to the trading session last weekend (August 23).

Early this morning (August 26), Vietcombank listed the USD cash buying price at 24,700 VND/USD, selling price at 25,070 VND/USD (buying - selling), down 100 VND in both buying and selling compared to the beginning of the trading session last weekend (August 23).

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USD prices at commercial banks have dropped sharply. Photo: Nam Khanh

Similarly, VietinBank decreased sharply by 131 VND in both directions compared to the early morning of August 23, listed at 24,716-25,056 VND/USD (buy - sell).

Along with the trend, in the private joint stock commercial banking sector, the USD price also decreased sharply.

This morning, Techcombank bought USD cash at 24,692 VND/USD and sold at 25,083 VND/USD, down 128 VND in buying and down 129 VND in selling compared to early morning on August 23.

Sacombank listed the USD price at 24,730-25,070 VND/USD (buy - sell), down 110 VND for buying and down 100 VND for selling compared to the end of last week.

Since the beginning of August, the VND/USD exchange rate at banks has tended to decrease. Compared to the beginning of August, the USD price at many banks has decreased by nearly 400 VND.

In contrast to the banking channel, in the free market, the USD price today fluctuated little.

Foreign exchange points on the free market this morning traded USD at a common price of 25,200-25,300 VND/USD (buy - sell), unchanged from the previous session.

The buying price of USD in the free market is about 500 VND higher and the selling price of USD is over 200 VND more expensive than in the banking market.

In the world market, the USD price tends to go down. The US Dollar Index has reached 100 points.

At 10:50 a.m. on August 26 (Vietnam time), the US Dollar Index was at 100.7 points, down 0.02% from the previous session.

The US dollar weakened after US Federal Reserve Chairman Jerome Powell gave more specific signals about upcoming interest rate cuts.

USD bank prices plummet, down more than 100 VND USD prices at many commercial banks today (August 20) fell sharply, with some banks lowering prices by more than 100 VND. The central exchange rate also dropped sharply.