Exchange rate hits ceiling, jumps to 26,242 VND/USD

Since the beginning of the year, the exchange rate at Vietcombank has increased by 2.7%. Of which, since the beginning of the second quarter of 2025, the exchange rate has increased by more than 1.95%.

On the morning of June 16, the State Bank announced the central exchange rate applied for the day at 24,993 VND/USD, up 18 VND/USD compared to the end of last week. With a +/-5% band as prescribed, the ceiling rate is 26,242 VND/USD while the floor rate is 23,743 VND/USD. The reference exchange rate at the State Bank's Transaction Office is 23,777-26,173 VND/USD (buy-sell).

Last weekend, when the central exchange rate fell sharply, the selling rates at banks all increased by a large margin. Commercial banks continued to raise their exchange rates in line with the State Bank's (SBV) increase in the central exchange rate, thereby anchoring the selling rates at the ceiling.

At Vietcombank , the USD/VND exchange rate is currently trading at 25,882 VND/USD (buying by transfer) and 26,242 VND/USD (selling), up 19 VND/USD compared to yesterday. Since the beginning of the year, the exchange rate at Vietcombank has increased by 2.7%. Of which, since the beginning of the second quarter of 2025, the exchange rate has increased by more than 1.95%.

According to analysts from FiinRatings, the USD/VND exchange rate has remained high due to the strong domestic demand for USD from businesses and the State Treasury, making the supply even more limited. The SBV's flexible adjustment of the central exchange rate, setting new record highs, has allowed the market more room for self-regulation.

Meanwhile, the US dollar fell against many major currencies, keeping the US Dollar Index (DXY) at a three-year low. Despite a slight increase from the end of the week, the DXY index traded at around 98.3 points. Meanwhile, the price of gold rose to around $3,440 an ounce, moving closer to the record price set in April 2025. Rising tensions in the Middle East pushed investors towards safe-haven assets. Israel and Iran launched attacks over the weekend, raising concerns that the escalating war could spark a wider regional conflict.

Meanwhile, this week, investors are awaiting the US Federal Reserve's policy meeting, with forecasts leaning towards the possibility of keeping interest rates unchanged. However, investors' attention will focus mainly on signals about the timing and extent of future interest rate cuts. Recent economic data - especially last week's weaker-than-expected inflation report - has reinforced expectations that the Fed could begin easing policy as early as September 2025. Investors are also waiting for clearer new steps related to US tariff policy. Previously, President Donald Trump said he would send letters to trading partners in the next week or two to set unilateral tariffs on a series of countries. Meanwhile, US Treasury Secretary Scott Bessent signaled the possibility of extending the 90-day pause on reciprocal tariffs for countries that show “good faith” in ongoing trade negotiations. The 90-day pause on reciprocal tariffs was set to expire on July 9.

Currently, the spot gold price is trading at 3,430 USD/ounce. The gold futures price for August 2024 delivery on the Comex New York floor also edged up slightly to 3,450 USD/ounce.

At Saigon Jewelry Company (SJC), the price of gold bars is listed at 118.2 million VND/tael for buying and 120.2 million VND/tael for selling. The difference between buying and selling prices is 2 million VND per tael. The selling price of gold bars at all companies has returned to the 120 million VND/tael mark since last Friday.

Source: https://baodautu.vn/ty-gia-cham-tran-vot-len-26242-vndusd-d305281.html