On November 19, the State Bank listed the central exchange rate at 24,293 VND/USD, with a trading range of 23,080 to 25,510 VND/USD. Many commercial banks listed the ceiling selling price at 25,510 VND/USD, while Vietcombank maintained it at 25,160 - 25,510 VND/USD.
On the free market in Hanoi, the USD exchange rate this morning fluctuated between 25,610 - 25,715 VND/USD, a slight increase compared to the previous session.
The US dollar continued to rally last week, recording its biggest gain in more than a month. The US dollar index (DXY), which measures the greenback's strength against a basket of six major currencies, was at 106.23, down 0.04% in the past 24 hours but up 1.6% for the week.
Last week, the central rate of the State Bank was adjusted up by 15 VND, closing at 24,310 VND/USD on November 16. The interbank rate also increased, ending at 25,402 VND/USD, 110 VND higher than the session at the end of last week.
Overnight interest rates on the interbank market for VND increased to 5.85%, while USD interest rates decreased slightly to 4.52%.
Last week, the State Bank injected a net VND31,000 billion through the open market, maintaining stable system liquidity. The total circulating value reached about VND156,000 billion.
This week (November 18-22) the market will focus on signals from the US Federal Reserve (Fed) and US PMI data, factors that can greatly affect exchange rates and market sentiment in the coming time.
