On June 24, the central exchange rate was listed by the State Bank at 25,058 VND, an increase of 30 VND compared to the previous day.
With a 5% margin compared to the central rate, commercial banks are allowed to buy and sell USD in the price range of 23,805 - 26,310 VND.
At commercial banks, the USD price was pushed to the ceiling. Vietcombank traded USD buying price at 25,980 VND, selling price at 26,310 VND, up 31 VND compared to yesterday.
BIDV listed the USD price at 26,015 VND for buying and 26,305 VND for selling. Many other commercial banks also pushed the USD price above 26,300 VND, the highest ever.
If calculated from the beginning of the year until now, the USD price in the banking market is nearly 750 VND higher (up about 2.9%).
USD prices at banks increase rapidly
A notable development is that the USD price on the free market has not fluctuated too much. Foreign exchange points in Ho Chi Minh City are buying and selling this foreign currency at around 26,350 - 26,450 VND per USD, about 150 VND higher than the price in banks.
According to Thanh Cong Securities Company (TCSC), the USD price in Vietnam has increased recently due to the increased disbursement of public investment, which has increased the amount of deposits in the banking system; the demand for USD is still high in the economy .
If the depreciation continues to increase more strongly in the coming time, it is likely that the State Bank will have to consider adjusting its policy because the exchange rate pressure can affect macroeconomic stability.
"In the short term, the State Bank is still trying to curb the exchange rate increase by draining interbank liquidity to push interest rates up, indirectly reducing demand for USD," said TCSC experts.
Mr. Nguyen The Minh, Director of Individual Client Analysis, Yuanta Vietnam Securities Company, said the exchange rate increased again after remaining flat the previous week due to the high demand for USD in the market.
The selling rate at commercial banks is trading around the ceiling, while the free exchange rate has rebounded after falling at the end of May. In addition, the US's entry into the Iran-Israel conflict has also put great pressure in the short term on the USD/VND exchange rate.
A strategy report by the Global Economics and Market Research department of UOB Bank assessed that if a trade agreement with the US is not reached, the dong will remain in a weak range against the USD.
The VND is likely to continue to fluctuate in a weak range until the end of the third quarter of 2025 and will begin to recover from the fourth quarter to early 2026. The USD/VND exchange rate is forecast to be around 26,300 VND in the third quarter of 2025 and gradually cool down to around 25,800 VND in the first quarter of 2026.
Source: https://nld.com.vn/gia-usd-tai-viet-nam-tang-rat-cao-196250624131104043.htm
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