(PLO)- The dollar price at banks today recorded an unusual ups and downs session, there was a time when the USD price bounced away from the level of 24,000 VND/USD, then quickly slipped away from this level at the end of the session.
On February 23, the central exchange rate was maintained by the State Bank at 23,641 VND/USD. The spot selling rate was maintained by the State Bank at 24,780 VND/USD; spot buying rate is at 23,450 VND/USD.
At commercial banks, USD price rebounded strongly above the threshold of 24,040 VND/USD, then gradually cooled down at the end of the day.
Specifically, USD price at Vietcombank today is 23,620 – 23,990 VND/USD, up 40 VND in both directions compared to the closing price yesterday afternoon.
Meanwhile, at Eximbank, there were times when it bounced up to 23,720 VND/USD (buy) and 24,040 VND/USD (sell). At this price range, Eximbank increased by 100 dong in the buying afternoon and 70 dong in the selling afternoon compared to yesterday.
This is the strongest increase on a daily basis so far this year. However, by the end of this afternoon, the price of the greenback at Eximbank was only 23,650 – 23,970 VND/USD. Compared to the beginning of the year, the USD price has increased from 260 – 320 VND depending on the bank.
Similarly, on the black market, the greenback’s price is also “floating”. By the end of this afternoon, the free USD price was popularly traded at 23,810 – 23,860, up 110 dong in the buying afternoon and 80 dong in selling compared to the end of yesterday. Despite the strong increase, the selling price of USD on the black market is still lower than that of banks from 110-130 VND.
On the international market, the USD rose against other currencies, the USD-Index increased by 0.09% to 104.5 points.
Currently, the market raises the odds for the US Federal Reserve (Fed) to raise interest rates three more times this year (or 75 basis points) to 54% for the June meeting.
Yields on 10-year US government bonds rose nearly 10 basis points last week, while the DXY index (a measure of the dollar’s strength) edged up 0.2%.
In the domestic market, the pressure from the international market made the exchange rate listed at commercial banks and the black market rate continue to rise for the second week in a row. Last week, the listed exchange rate at Vietcombank increased by 235 VND/USD, while the black market rate increased by 60 VND/USD.
However, newly released data from the General Department of Customs may show signs of support for VND in the near future, when the trade balance has a surplus of more than 1 billion USD in the first half of February.
The State Bank of Vietnam prioritizes stabilizing interest rates and exchange rates in 2023
(PLO)- The SBV will maintain exchange rate stability to ensure the harmony of export and import policies, especially creating favorable conditions for attracting foreign capital flows to Vietnam.
T.LINH