The official exchange rate this morning continued to increase by 40-50 VND to 24,035 VND, the highest level in 8 months, and the USD on the free market also "surged".
On the morning of August 15, the State Bank continued to increase the USD selling price at the Exchange by 35 VND to 25,025 VND, the highest level ever.
The central exchange rate announced by the State Bank also increased sharply by 33 VND to 23,881 VND. With a 5% margin, the US dollar price allowed to be traded at commercial banks is in the range of 22,686 - 25,075 VND.
The US dollar price at commercial banks increased by 40-50 VND compared to the end of yesterday, officially surpassing the 24,000 VND mark.
Vietcombank continuously adjusted its listed exchange rate this morning. By the end of the morning, the USD buying and selling price at this bank was 23,665 - 24,035 VND, an increase of 45 VND compared to the end of yesterday.
VietinBank also increased the USD buying and selling price to 23,881 - 24,030 VND. At BIDV, the USD price was traded at 23,710 - 24,010 VND. Private banks such as Eximbank, Sacombank, Techcombank... also adjusted the exchange rate this morning to exceed 24,000 VND.
The USD price on the free market this morning also "made waves" when foreign exchange points increased the USD buying and selling price by 50-70 VND. The USD buying and selling price on the black market is currently trading around 23,800 - 23,900 VND.
After half a year of stability, the exchange rate has tended to increase in recent days, according to experts, due to pressure from the weakening yuan.
The exchange rate is currently at an eight-month high and up about 1.2% from the beginning of the year. However, the USD price is still lower than the peak from October to December last year due to pressure from countries around the world to tighten monetary policy.
According to the analysis team of Shinhan Bank, the dong tends to move in the same direction as the yuan when China is the largest trading partner. The recent weakening of the yuan due to the loss of momentum in China's manufacturing sector is creating depreciation pressure on the dong in the short term.
Quynh Trang
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