Bank USD prices continue to stay high
On the morning of May 5, the USD/VND exchange rate at many commercial banks continued to stay high, although the central exchange rate announced by the State Bank decreased slightly.
At Vietcombank, the USD price is listed at 25,790 VND, selling at 26,180 VND.
At BIDV, the corresponding exchange rate is 25,800 - 26,160 VND.
Sacombank is the bank with the highest selling price in the survey group, at VND 26,200/USD.
Meanwhile, Techcombank listed the difference between buying and selling prices at up to 472 VND, with the buying price at 25,719 and selling price at 26,191 VND/USD.
The central exchange rate on the same morning was adjusted by the SBV down by 12 VND, to 24,944 VND/USD. However, the USD price level in the banking market did not decrease accordingly, which likely showed that the defensive mentality against exchange rate fluctuations was still maintained.
Black market USD price exceeds VND26,500
In the free market, USD is traded at VND26,410 - VND26,510, about VND300 higher than the selling price at banks. This is the third consecutive week that the "black market" has recorded prices far exceeding the official system, reflecting the large demand for USD in the foreign exchange.
According to forecasts from some international financial institutions, the USD/VND exchange rate in the second quarter of 2025 will continue to fluctuate between 25,700 to 26,200 VND.
Standard Chartered forecasts the exchange rate to rise around VND26,000 in the middle of the year and then fall to VND25,700 by the end of the year.
UOB Bank also believes that USD/VND may peak at VND26,000 in the second and third quarters, with a range of about 23%.
KBSV Securities Company believes that the exchange rate will remain around VND26,000 by the end of the year, equivalent to an increase of about 2% compared to the end of 2024.
The latest data shows that Vietnam's total import turnover in the first quarter of 2025 reached nearly 100 billion USD, up 17% over the same period. The pressure to buy USD for imports is expected to continue into May, while foreign currency supply has not shown any signs of abundance.
In the short term, the USD/VND exchange rate is forecast to continue to remain above the 26,000 VND mark, with the possibility of fluctuating slightly around the 26,10026,200 VND range if there are no strong fluctuations from the international market or direct intervention measures from the management agency.
