According to surveys, the US dollar exchange rate in Hanoi's free market is currently trading at 25,500 - 25,700 VND/USD (buy - sell). This is also the highest selling price ever recorded in the "black market".
According to the owner of a shop on Ha Trung Street, the USD exchange rate increased by 30 dong for buying and 150 dong for selling today compared to the end of last week.
Since the beginning of 2024, the free market USD exchange rate has increased by approximately 880 VND on the buying side and 1,000 VND on the selling side.
The free market exchange rate for the US dollar has reached a record high. (Illustrative image: VNE)
Meanwhile, at banks, the USD price moved in the opposite direction today, falling.
Specifically, at 2:30 PM on March 11th, Vietcombank listed the USD exchange rate at 24,400 - 24,770 VND/USD (buying - selling), a decrease of 100 VND in both directions compared to the end of last week's trading session (March 8th).
At the same time, VietinBank traded USD at 24,363 - 24,783 VND/USD (buy - sell), a decrease of 77 VND in the buying rate and a decrease of 97 VND in the selling rate compared to the morning of March 8th.
The central exchange rate announced by the State Bank of Vietnam on March 11th is 23,972 VND/USD, a decrease of 24 VND compared to the rate listed at the end of last week. Applying a 5% margin, commercial banks are allowed to trade today at a ceiling exchange rate of 25,171 VND/USD and a floor exchange rate of 22,773 VND/USD.
The State Bank of Vietnam's Exchange Department also lowered the reference USD exchange rate by 24 dong, bringing it to a range of 23,400 - 25,122 dong/USD (buying - selling).
The USD exchange rate gap between the free market and banks is currently quite large. The buying price of USD at banks is 1,000 VND lower, while the selling price is also about 800-900 VND lower than in the free market.
The US Dollar Index (which measures the fluctuations of the US dollar against six major currencies) was at 102.74 points at 2:30 PM on March 11th (Vietnam time), up 0.03% from the previous session.
Source
Comment (0)