The central exchange rate continues to increase and set a new record
This morning (11.2), the State Bank announced the central exchange rate at VND 24,522/USD, an increase of 35 VND compared to the previous session. This is the highest level in the history of the central exchange rate.
In the past week, the central exchange rate has increased by a total of 197 dong, reflecting the hot movements of the green silver coins on the market. With a amplitude of ± 5%, commercial banks today are allowed to trade USD in the range of 23,296 - 25,748 VND/USD.
At the State Bank Exchange, USD reference exchange rate also fluctuated strongly:
Buy in: 23,346 VND/USD (down 54 dong).
Sell: 25,698 VND/USD (up 248 VND).
USD Bank increased shock, the selling price reached 25,600 VND/USD
At commercial banks, the USD price has increased sharply this morning:
Vietcombank: 25,260 - 25,650 VND/USD (up 90 VND).
BIDV: 25,300 - 25,660 VND/USD (an increase of VND 170).
VietinBank: 25,308 - 25,668 VND/USD (up 98 VND).
Techcombank: 25,292 - 25,695 VND/USD (up 100-105 VND).
Sacombank: 25,280 - 25,690 VND/USD (an increase of VND 80-110).
Thus, the USD price sold at the bank has exceeded 25,600 VND/USD, making the highest level ever.
Free market: USD price closely follows the bank
Not only banks, USD price in the "black market" market continues to go up:
Buy in: 25,670 VND/USD (up 90 VND).
Sell: 25,760 VND/USD (up 80 VND).
The gap between the price of the black market and the bank is increasingly narrowed. Currently, the price at the bank is only 70 VND/USD lower than the black market, while the purchase price is about 400 VND/USD lower.
Why does the USD continue to rise sharply?
The development of USD prices reflects the general trend of the green silver coins in the world.
The US Dollar Index (USD power against the key currencies) at 11pm on 11.2 (Vietnam time) reached 108.4 points, up 0.08% compared to the previous session.
The escalation of trade tensions between the US and China is the main factor that continues to increase in the international market. Recently, US President Donald Trump announced that the 25% tax imposed on the entire steel and aluminum item imported into the country. The move immediately faced response from China, when Beijing also issued a series of new tariffs on US exports.
Not only increasing risks in the financial market, the tariff battle between the two largest economies in the world also caused inflation in the US to rise. When the price of goods is pushed up due to import tax, inflation pressure can force the US Federal Reserve (Fed) to maintain high interest rates, even consider stricter control measures. .
In this context, USD became a safe shelter, attracting investment capital and continued to strengthen in the global currency market. These factors are pushing USD to the highest level in the past few months.
Will USD continue to increase or about to turn down?
According to experts, the USD exchange rate in the near future will still depend on many factors, including the US -China trade tensions. If the two countries continue to have tax retaliation, USD will likely be anchoring at a high level.
In addition, Fed's monetary policy also plays an important role. If inflation in the US increases sharply, the Fed may maintain high interest rates to control prices, indirectly keeping USD high.
Domestic, USD exchange rate in Vietnam also depends on the development of foreign currency supply and administrative policies of the State Bank. If the USD continues to rise sharply in the world market, the domestic exchange rate may still fluctuate in the near future.
