Black market USD price skyrockets, close to 26,000 VND

The black market price of USD has skyrocketed, approaching the threshold of 26,000 VND. Photo: AFP.

Free USD price increased sharply, nearly reaching 26,000 VND

As of June 24, foreign currency exchange points on the free market continued to raise USD prices compared to last weekend.

In Ho Chi Minh City area, the free USD price increased by 20 VND, to 25,840 - 25,920 VND (buy - sell).

In Hanoi , some places raised the price to 25,850 - 25,950 VND (buy - sell).

Despite the decline in US Treasury bond yields, the USD still tends to strengthen in the international market as the USD Index - measuring the strength of the greenback - has increased in the past two weeks, currently around 105.65 points.

Domestic USD price continues to increase

At the beginning of the trading session on June 24, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,256 VND. At commercial banks, the buying and selling rates of USD are as follows:

USD price at Vietcombank is currently at 25,218 - 25,468 VND.

USD price at VietinBank is currently at 25,251 - 25,468 VND.

USD price at BIDV is currently at 25,251 - 25,468 VND.

In a recent analysis report, ACBS Securities Company predicted that the FED's late and much lower interest rate cut than the forecast at the beginning of the year will cause pressure on the USD/VND exchange rate to become a permanent issue. Not only that, this pressure may increase further in the summer when the trade balance is tilted towards a trade deficit to prepare for production, business and export activities at the end of the year.

Source: https://laodong.vn/kinh-doanh/gia-usd-cho-den-vot-tang-sat-nguong-26000-dong-1357046.ldo