On the afternoon of October 22, the free USD price caused surprise.

On October 22, the State Bank listed the central exchange rate at 25,099 VND/USD, unchanged from yesterday. The USD price at commercial banks was also stable: Vietcombank bought at 26,153 VND and sold at 26,353 VND/USD; Eximbank listed at 26,160 - 26,353 VND; BIDV at the same rate of 26,153 - 26,353 VND/USD.

However, unexpected developments occurred in the free market. On the same afternoon, some foreign exchange points in Ho Chi Minh City quoted buying prices of 27,146 VND/USD and selling prices of 27,342 VND/USD, an increase of about 50 VND compared to yesterday.

This is the highest USD price in more than a month and is nearly 1,000 VND higher than the price at banks. The last time the free USD price exceeded 27,000 VND was in early September.

- Ảnh 1. — Free USD price increased to over 27,200 VND

Mr. Nguyen The Minh, Director of Individual Client Analysis - Yuanta Securities Vietnam, commented that the strong increase in the free exchange rate comes from the high demand for USD at the end of the year, while the cash supply is limited. In addition, the gap between the free market and banks needs time to regulate, although the State Bank has sold USD forward twice recently.

According to forecasts, this week, the USD/VND exchange rate may remain unchanged or increase slightly due to pressure from increased foreign currency demand and the USD index (DXY) on the international market is on the rise - currently at 98.9 points, the highest since the beginning of August.