The bank exchange rate increased sharply to 24,600 VND, 3.7% higher than at the beginning of the year and about 1.1% away from the old peak.
On September 26, the State Bank announced the central exchange rate at 24,084 VND, up 8 VND compared to yesterday. With a 5% margin compared to the central exchange rate, commercial banks are allowed to trade USD in the range from 22,879 VND to 25,288 VND.
This morning, the State Bank of Vietnam also raised the selling price by 9 VND to 25,238 VND, keeping the buying price unchanged at 23,400 VND.
The USD price at commercial banks increased sharply by about 70-80 VND this afternoon compared to yesterday, reaching the highest level since the beginning of the year.
At Vietcombank, the exchange rate increased to 24,240 - 24,610 VND, up 75 VND in both directions compared to the end of yesterday. The USD buying and selling price at Vietinbank increased to 24,188 - 24,608 VND. Eximbank also raised the buying and selling price to 24,200 - 24,600 VND at noon today.
Thus, the bank USD price has increased by 3.7% compared to the beginning of the year and is still 1.1% away from the peak set in the last quarter of last year.
In the international market, the USD Index - a measure of the strength of the greenback - has also increased by nearly 1% over the past week, currently trading above 106 points. At the end of last week, the US Federal Reserve (Fed) announced that it would keep its reference interest rate at a 22-year high as previously predicted by the market. However, Fed officials recently said that a stronger policy tightening "is certainly inevitable".
In contrast to the USD, domestic gold prices have been on a downward trend in recent days, falling below VND69 million per tael. Gold bar prices in the first two days of the week have dropped by VND250,000, trading at VND68.1 - 68.9 million per tael.
Quynh Trang
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