After plunging below 25,000 VND/USD in the buying direction at the end of last week, the USD price in the free market has tended to recover since the middle of this week.

Notably, after a few slight increases, the free USD price today was adjusted to increase sharply.

Foreign exchange points in the free market today traded USD at a common price of 25,110-25,210 VND/USD (buy - sell). Compared to the previous session, the free USD price increased by 110 VND in both buying and selling directions.

Despite the rapid increase, compared to the peak of 25,950-26,030 VND/USD (buy - sell) set on June 27, the free USD price is still 840 VND lower for buying and 820 VND cheaper for selling.

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Free USD price increases sharply. Photo: Nam Khanh

The central exchange rate between the Vietnamese Dong and the USD announced by the State Bank on September 27 was 24,118 VND per USD, an increase of 13 VND compared to the listed rate yesterday.

Applying a 5% margin, commercial banks are allowed to trade today at a ceiling rate of VND25,324/USD and a floor rate of VND22,912/USD.

The reference USD selling rate was adjusted by the State Bank of Vietnam to increase by 13 VND compared to the previous session, to 25,273 VND/USD. Meanwhile, the reference USD buying rate was maintained at 23,400 VND/USD.

Meanwhile, USD prices at many commercial banks were adjusted down slightly.

Specifically, early this afternoon, Vietcombank listed the USD cash buying price at 24,390 VND/USD, selling price at 24,760 VND/USD, down 30 VND in both buying and selling compared to yesterday morning (September 26).

Similarly, VietinBank also lowered the USD buying and selling prices to 24,431-24,771 VND/USD, down 29 VND in both directions compared to yesterday morning.

In the private joint stock commercial banking sector, many banks this afternoon also adjusted the greenback price down.

Techcombank buys USD cash at 24,417 VND/USD, sells at 24,808 VND/USD, down 11 VND in buying and down 16 VND in selling compared to yesterday morning.

Sacombank listed the USD price at 24,430-24,790 VND/USD (buy - sell), down 10 VND in both buying and selling compared to yesterday morning.

The buying price of USD at banks is about 700 VND lower and the selling price of USD is 400 VND lower than the free market.

In the world market, the USD price tends to recover. The US Dollar Index (measuring the fluctuations of the greenback against 6 major currencies) at 14:43 on September 27 (Vietnam time) was at 100.7 points, up 0.17% compared to the previous session.

USD prices in banks plummeted across the board . USD prices in banks today plummeted across the board, with some banks lowering their prices by more than 100 VND. The central exchange rate also reversed downwards.