Central exchange rate of VND/USD
This morning (October 21), the State Bank of Vietnam announced that the central exchange rate remained unchanged, currently at VND 25,101/USD.
With an margin of plus/ minus 5%, commercial banks today are allowed to trade USD in the range of VND 23,896 - VND 26,306/USD.
At the State Bank of Vietnam Transaction Office, the reference exchange rate today is as follows:
Buy in: VND 23,896/USD.
Selling: VND 26,306/USD.
Domestic bank USD prices fluctuate, black market USD increases prices
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, ranging from 27,167 - 27,287 VND/USD (buy - sell), down 73-53 VND/USD.
Banks listed USD selling prices at VND 26,355 - VND 26,356/USD.
The bank with the highest cash and transfer price of USD: HSBC (26,221 VND/USD).
The difference between buying and selling prices at banks ranges from 139-265 VND/USD.
Yen exchange rate against USD
At the time of the survey, the Yen exchange rate against the USD was currently trading at 150.53 USD/JPY, losing a slight increase. Meanwhile, in the free market, this pair of exchanges is trading between 177.47 - 178.67 USD/JPY (buy - sell), down from the previous session's close.
Assessment and forecast
The USD is in the adjustment phase after its biggest decline in more than two months, due to expectations that the US Federal Reserve (Fed) will continue to lower interest rates and new credit risks appear in the US regional banking sector. The yield on the two-year US Treasury note fell to a three-year low, putting downward pressure on the USD.
However, the recovery of the USD is still expected by many investors in the long term as political news, especially in Japan and France, shows signs of stabilization, along with the reduction of US-China trade tensions, helping to ease pressure on currency markets.
The Japanese Yen has initially weakened as Sanae Takaichi - who supports fiscal and monetary stimulus policies - is almost certain to become Japan's next Prime Minister after gaining important political support for the leadership position.
However, this decline quickly disappeared after Hajime Takata, a policymaker at the Bank of Japan (BOJ) reiterated the call for a rate hike.
