The central exchange rate between the Vietnamese Dong and the USD announced by the State Bank today (October 18) is 24,213 VND/USD, an increase of 14 VND compared to yesterday.

With a margin of 5%, commercial banks are allowed to trade USD at a floor rate of 23,002 VND/USD, and a ceiling rate of 25,424 VND/USD.

The reference USD buying rate is still maintained by the State Bank of Vietnam at 23,400 VND/USD. Meanwhile, the reference USD selling rate increased by 15 VND, to 25,373 VND/USD.

Commercial banks today continued to push the USD price up following the strong increase from 2 days ago.

Many banks adjusted the USD price to be more expensive by more than 100 VND compared to yesterday morning (October 17). The USD buying price at all banks exceeded 25,000 VND/USD. The USD selling price at some banks exceeded 25,400 VND/USD, reaching the ceiling price.

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USD prices at commercial banks increased. Photo: Nam Khanh

This morning, Vietcombank raised the USD cash buying price to 25,010 VND/USD and the selling price to 25,400 VND/USD, an increase of 100 VND in both buying and selling compared to yesterday morning.

Similarly, BIDV raised the USD price by 155 VND in both directions, bringing the buying and selling prices to 25,040-25,400 VND/USD. VietinBank also raised the USD price to 25,084-25,423 VND/USD (buying and selling), an increase of 144 VND in the buying direction and 126 VND more expensive in the selling direction.

In the private banking sector, the USD price was also adjusted to increase sharply.

Compared to yesterday morning, Techcombank increased by 113 VND in buying price and 101 VND higher in selling price, bringing the cash USD buying price to 25,052 VND/USD, the selling price is 25,423 VND/USD.

Sacombank raised the USD price to 25,080-25,420 VND/USD (buy - sell), an increase of 170 VND for buying and 150 VND more expensive for selling.

Eximbank also increased the USD price by 130 VND for buying and 93 VND more expensive for selling, bringing the buying and selling price of USD cash to 25,050-25,423 VND/USD.

Two days ago, the USD price at many banks was also adjusted to increase sharply, with an increase of more than 100 VND per session.

Since the beginning of the week, the USD price at Vietcombank has increased by nearly 400 VND in both buying and selling prices. The USD price at many other banks has also increased similarly.

While the USD price at commercial banks has increased sharply, the USD price on the free market has recently fluctuated little. Currently, the free USD price is bought and sold at 25,260-25,360 VND/USD, unchanged from the previous session.

Notably, the selling price of USD on the banking channel has exceeded the free market, while the buying price at the bank is only about 200 VND lower than the free market.