The State Bank announced the central exchange rate between the Vietnamese Dong and the USD on November 1 as 24,242 VND/USD, down 1 VND compared to the previously listed rate.

With a margin of 5%, commercial banks are allowed to trade today at a ceiling rate of VND25,454/USD and a floor rate of VND23,030/USD.

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

USD prices at commercial banks today continued to decline since the beginning of the week.

The USD selling price at all banks today decreased by 1 VND compared to yesterday's listed price and was listed at the ceiling price of 25,454 VND/USD.

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Bank USD prices weaken. Photo: Nam Khanh

Meanwhile, the USD buying price at banks was adjusted to decrease more strongly, with a common amplitude of 15-30 VND.

Specifically, at the opening of today's trading session, Vietcombank pulled the USD cash buying price down to 25,064 VND/USD, down 21 VND compared to the listed price early this morning (October 31).

Similarly, compared to yesterday's opening price, BIDV also decreased by more than 22 VND in the buying direction, bringing the USD buying price down to 25,105 VND/USD. VietinBank early this morning listed the USD buying price at 25,097 VND/USD, down 16 VND.

In the private banking sector, Sacombank lowered the USD buying price to 25,100 VND/USD, down 30 VND compared to early this morning. Techcombank also lowered the USD buying price to 25,082 VND/USD, 15 VND cheaper than this morning.

Overall, over the past week, the USD buying price has decreased by about 100 VND at many banks.

In the free market, the USD price turned up, after consecutive decreases in the previous two sessions.

Foreign exchange points in the free market this morning bought USD at a common price of 25,690 VND/USD, and sold at 25,790 VND/USD. Compared to the previous session, the free USD price increased by 30 VND in both buying and selling directions.

In the world market, the USD price tends to weaken. The US Dollar Index (measuring the fluctuations of the greenback against 6 major currencies) at 10:08 a.m. on November 1 (Vietnam time) was at 103.96 points, down 0.01% compared to the previous session.

The USD price fell as recently released US data showed that price pressures continued to cool, reinforcing the possibility that the US Federal Reserve (Fed) will cut interest rates by 25 basis points next week.