USD/VND exchange rate continues to increase strongly
The USD price in the free market this morning (October 3) reached 21,300 VND, while the USD price listed at commercial banks has surpassed this mark.
Early this morning, some free foreign exchange trading points in Hanoi quoted USD prices at 21,265-21,275 VND (buy) and 21,290-21,300 VND (sell). Compared to yesterday morning, the free USD price has increased by 20 VND for buying and 25 VND for selling.
The “black market” exchange rate has fluctuated quite strongly from yesterday to this morning. The total increase in the free USD selling price in the two days has reached 40 VND/USD.
The caution of foreign currency traders has begun to increase, as shown by the widening of the gap between the buying and selling prices of USD. While yesterday morning, some free foreign currency trading points in Hanoi offered a gap of 10 VND/USD between the buying and selling prices, this morning, the gap fluctuated from 15 to 20 VND.
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The bank's USD selling price is about 20-30 VND higher than the "black market". |
The USD/VND exchange rate at commercial banks is making a stronger breakthrough in the free market and has surpassed the 21,300 VND mark.
Vietcombank this morning quoted USD prices at 21,270 VND (buy) and 21,320 VND (sell), 30 VND higher than yesterday morning. Eximbank listed USD prices at 21,240 VND and 21,320 VND respectively, up 20 VND compared to yesterday morning.
Compared to the free market, the USD buying price at commercial banks is lower or almost equal. However, the USD selling price at banks is about 20-30 VND higher than the “black market”.
Yesterday afternoon, the USD/VND exchange rate temporarily “cooled down” when some commercial banks adjusted the listed USD price down below the 21,300 VND level set in the morning. However, this was only a temporary setback to “gain momentum” for acceleration this morning.
In the past 3 days, the USD/VND exchange rate at banks has increased by about 75 VND/USD. Thus, in just half a month, the USD price has increased by about 155 VND. Before that, the USD/VND exchange rate had a period of “quietness” lasting from the end of June.
The main reasons for the strong fluctuations in the exchange rate in recent days are believed to include greater market expectations that the State Bank may continue to raise the USD/VND exchange rate this year, in addition to expectations that VND interest rates may decrease further.
The official USD/VND exchange rate listed on the State Bank's website this morning remained at 21,246 VND. The State Bank also kept the USD buying and selling prices at the Exchange unchanged at 21,200 VND and 21,400 VND.
Thus, the USD buying price of the State Bank's Transaction Office is 120 VND lower than the USD selling price of commercial banks.
According toVnEconomy
