Updating the USD/VND exchange rate today (August 23) at 2:00 p.m. on August 23 shows that the State Bank listed the central exchange rate at 25,245 VND, an increase of 5 VND compared to the closing time on August 22.
At Vietcombank, updated this afternoon, the USD price was listed at 24,780 VND and 25,150 VND (cash buy - sell), up 30 VND in both directions compared to the same time yesterday.
At Techcombank, this bank listed at 24,714 VND and 25,226 VND for cash buying and selling, down 21 VND compared to yesterday's afternoon session.
Latest recorded at Eximbank, the USD price is currently listed at 23,379 VND on the cash buying side and 25,220 VND on the selling side, an increase of nearly 30 VND in both directions.
BIDV recorded an increase of 43 VND (equivalent to 0.16%) in USD price this afternoon with 24,800 VND and 25,140 VND (cash purchase and sale).
Compared to the peak set at the end of April, the exchange rate in the banking market is currently 1.6% lower, about 335-368 VND.
Notably, the free USD price this afternoon continued to record a downward trend. The free USD price on the buying side is 25,200 VND, on the selling side it is priced at 25,280 VND. 50 VND off for buying and selling.
The current free USD price is the lowest since March. Compared to the peak of more than 26,000 VND set at the end of June, the free USD price is currently 750 VND lower, equivalent to a decrease of about 2.9%.
On the world market, the minutes of the July meeting of the US Federal Reserve (Fed) published in the early morning of August 22 (Vietnam time) showed that the possibility of cutting interest rates at the September meeting is almost certainly, because the majority of meeting members believe that loosening monetary policy is appropriate if economic data continues to move in line with forecasts.
In the analysis report on the exchange rate situation, the analysis team of ACB Securities (ACBs) said that the weakening momentum of the USD globally combined with a number of foreign currency sources in the market has supported the exchange rate. Price adjusted to below 25,000 VND.
It is forecasted that on September 18, before the FED meeting, the downward momentum of the exchange rate may continue to maintain with the expected target level around 24,800 VND.
Recently, the State Bank has also simultaneously deployed tools and efforts to restrain the rise of exchange rates when market factors are challenging.
For example, the State Bank had to reopen the bill issuance channel from mid-March to attract excess liquidity in the interbank market.
In addition, the operator also gradually increased the T-bill interest rate to 4.5% at the end of June, in parallel with raising the OMO interest rate to 4.5%. This is one of the operations of the management agency to increase the VND interest rate in the interbank market, reduce the difference between USD and VND interest rates, thereby reducing the pressure on USD speculation and exchange rate pressure. USD/VND price.
Along with operations on the open market, the State Bank is also selling foreign currencies to limit the decline of VND compared to the USD.
