Central exchange rate of VND/USD
This morning (October 22), the State Bank of Vietnam announced that the central exchange rate remained unchanged, currently at VND 25,099/USD.
With an margin of plus/ minus 5%, commercial banks today are allowed to trade USD in the range of VND 23,895 - VND 26,303/USD.
At the State Bank of Vietnam Transaction Office, the reference exchange rate today is as follows:
Buy in: VND 23,895/USD.
Selling: VND 26,303/USD.
Domestic bank USD prices fluctuate, black market USD depreciates
At commercial banks, the USD price today increased - decreased in both buying and selling directions. On the contrary, the black market USD price moved in a bearish trend, fluctuating between 27,166 - 27,316 VND/USD (buy - sell), down 127 VND/USD compared to the previous session's close.
Banks listed USD selling prices at VND 26,353 - VND 26,356/USD.
The bank with the highest cash and transfer price of USD: HSBC (26,219 VND/USD).
The difference between buying and selling prices at banks ranges from 139-263 VND/USD.
Yen exchange rate against USD
At the time of the survey, the Yen exchange rate against the USD was currently trading at 151.91 USD/JPY, up 1.18 USD/JPY, turning strongly up. Meanwhile, in the free market, this pair of exchanges is trading between 176.98 - 177.9 USD/JPY (buy - sell), down from the previous session's close.
Assessment and forecast
The US currency has stabilized thanks to a recovery on Wall Street despite a sudden return of market supervision of US regional banks, after two lenders, Zions and Western Alliance Bancorp, reported problems with fraud-related loans.
" Concerns about the health of regional banks and broader credit quality in the US are still important for the exchange rate market," said analysts at ING in a report.
"Signals that unrestricted lending issues are spreading beyond Zions Bancorp and Western Alliance may provide some additional support for the dollar, but may not be enough to completely address concerns about the underlying health of the credit market and help the greenback recover all losses."
In other developments, the US Bureau of Labor Statistics is expected to announce the September consumer price index delayed on Friday, despite the US government's closure.
"We are in agreement with the market when forecasting a 0.3% increase compared to the previous month for core inflation. This will further strengthen the possibility of the Fed cutting interest rates by 25 basis points next week," ING said.
The Yen faces new pressure soon after Ms. Takaichi - President of the ruling Liberal Democratic Party (LDP) was elected Prime Minister.
Takaichi, a policy maker for loose fiscal, has called on the government to increase its influence on central banks. 20 respondents all said that this would not slow down the BOJ's efforts to tighten monetary policy.
In the survey conducted from October 14 to 20, 60% of economists (45/75) predicted that the BOJ will raise short-term interest rates from 0.50% to 0.75% in this quarter. By the end of March, about 96% (64/67) predict that borrowing costs will increase to at least 0.75%.
