The central exchange rate between the Vietnamese Dong and the USD continues to be adjusted sharply by the State Bank, to a historical high.

Accordingly, the central exchange rate between the Vietnamese Dong and the USD on February 12 was announced by the State Bank at 24,550 VND/USD, an increase of 28 VND compared to yesterday. This is a historical record high for the central exchange rate.

The central exchange rate has been continuously adjusted upward recently. Since the first trading session after the Lunar New Year holiday (February 3), the central exchange rate has increased by a total of 225 VND.

Applying a 5% margin, commercial banks are allowed to trade USD today with a ceiling rate of VND25,778/USD and a floor rate of VND23,323/USD.

The reference USD exchange rate at the State Bank of Vietnam on February 12 was adjusted up to 23,373-25,727 VND/USD (buy - sell), up 27 VND/USD for buying and 29 VND/USD more expensive for selling compared to yesterday.

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USD bank prices increase sharply. Photo: Nam Khanh

On the banking channel, the USD price has been adjusted to an unprecedented high. The USD selling price at banks is now approaching the 25,800 VND/USD mark.

Specifically, compared to early yesterday morning (February 11), the USD price this morning at Vietcombank increased by 177 VND in both buying and selling directions, raising the USD cash buying price to 25,387 VND/USD, and the selling price to 25,777 VND/USD.

The USD price at BIDV also increased by 165 VND in both buying and selling prices, bringing the buying and selling prices to 25,415-25,775 VND/USD.

Similarly, VietinBank also raised the USD buying and selling prices to 25,430-25,777 VND/USD, an increase of 174 VND in buying and 161 VND more expensive in selling.

Not only at large state-owned banks, USD prices at private commercial banks are also adjusted to increase.

Techcombank increased 143 VND in buying and 132 VND more expensive in selling, the USD cash buying price was 25,390 VND/USD, the selling price was 25,777 VND/USD.

Sacombank also raised the USD price to 25,390-25,770 VND/USD (buy - sell), 160 VND more expensive in both buying and selling.

USD exchange rate Buy (VND/USD) Sell ​​(VND/USD)
Vietcombank 25,387 25,777
BIDV 25,415 25,775
VietinBank 25,430 25,777
Techcombank 25,390 25,777
Sacombank 25,390 25,770

USD exchange rate at some commercial banks on the morning of February 12.

Meanwhile, the USD price in the free market today was adjusted downward. Foreign exchange points this morning traded USD at 25,660-25,750 VND/USD (buy - sell), down 10 VND in both buying and selling compared to the previous session.

The selling price of USD at banks has now surpassed the USD price in the free market, while the buying price of USD at banks is only about 300 VND lower.

The domestic USD price increased rapidly even though the world USD price slowed down after the Chairman of the US Federal Reserve (Fed) said he was in no hurry to cut interest rates.

The US Dollar Index (a measure of the greenback's strength against other major currencies) at 10:34 a.m. on February 11 (Vietnam time) was at 108 points, up 0.04% from the previous session.

In a speech before the US Senate Banking Committee on February 12, Fed Chairman Jerome Powell said the economy is currently "generally strong" with a "solid" labor market. Inflation is cooling but still above the Fed's 2% target. Under current conditions, Mr. Jerome Powell said the Fed does not need to rush to loosen monetary policy.

USD bank price exceeds 25,600 VND, highest ever USD exchange rate today, February 11, 2025 recorded a sharp increase in the central exchange rate, setting a new record. USD selling price at banks increased to exceed 25,600 VND/USD, the highest level in history.