USD/VND exchange rate continues to increase, many banks sell at 26,370 VND/USD

In the free market, the USD price has exceeded 26,500 VND, while the exchange rate at state-owned commercial banks is approaching the prescribed ceiling.

On the morning of July 4, the State Bank of Vietnam announced today's central exchange rate at 25,116 VND/USD, up 25 VND/USD compared to yesterday. This is also the 5th consecutive increase, thereby recording a week of continuous increase in the central exchange rate.

With a 5% band as prescribed, the ceiling exchange rate is currently determined at 26,371 VND/USD. At the State Bank of Vietnam, the buying rate is kept at 23,911 VND/USD and the selling rate is at 26,321 VND/USD, also quite close to the ceiling. Some banks also raised their selling rates accordingly.

Currently, commercial banks are listing USD buying prices above 26,000 VND/USD. Last week, the buying rate was also pushed up to this level at times but was adjusted immediately afterwards.

On the selling side, state-owned commercial banks listed selling rates close to the ceiling or even at the maximum margin like VietinBank. Specifically, Vietcombank listed the buying rate at 26,010 VND/USD and the selling rate at 26,370 VND/USD. The USD exchange rate at VietinBank is 26,011 VND/USD (buying by transfer) and 26,371 VND/USD (selling);ACB is 26,000 VND/USD (buying by transfer) and 26,350 VND/USD (selling). Meanwhile, HSBC listed a higher price at 26,087 VND/USD for buying and 26,323 VND/USD for selling.

Notably, the USD selling price exceeded 26,500 VND. Surveying at some stores, the USD price on the free market this morning jumped to 26,420 VND/USD for buying and 26,520 VND/USD for selling.

Meanwhile, in the international market, the US Dollar Index (DXY) briefly surpassed the 97-point mark last night, after the US announced positive June labor data, leading to expectations that the US Federal Reserve (Fed) would maintain high interest rates for a while longer. However, the index has since adjusted and is currently trading around 96.8 points.

In addition to economic factors, investors are also closely following the movements of US trade policy. Recently, on July 3 (local time), US President Donald Trump said that Washington will start sending letters to countries from July 4, stating the tax rates on each country's export goods when entering the US market.

Previously, General Secretary To Lam had a phone call with President Donald Trump about Vietnam-US relations and negotiations on reciprocal taxes between the two countries. According to the latest update from the Ministry of Foreign Affairs, the Vietnamese and US negotiating teams are currently coordinating to concretize the discussion contents of the two countries' senior leaders.

President Donald Trump appreciated Vietnam's commitment to providing preferential market access for US goods, including large-engine cars. He affirmed that the US will significantly reduce reciprocal tariffs on many of Vietnam's export goods and will continue to cooperate with Vietnam in resolving difficulties affecting bilateral trade relations, especially in areas of mutual priority. General Secretary To Lam and President Donald Trump also discussed a number of major directions and measures to promote the Comprehensive Strategic Partnership in the coming years.

On his personal Truth Social platform, President Trump posted an announcement stating that the US and Vietnam have reached a new trade agreement. Accordingly, Vietnam will be subject to a 20% tax on all goods exported to the US, and a 40% tax on goods in transit. In return, the US will have full access to the Vietnamese market, with a 0% import tax on goods originating from the US.

In the international market, spot gold prices fluctuated around 3,340 USD/ounce, remaining unchanged after recent fluctuations. Since the beginning of the week, gold prices have increased significantly, mainly due to concerns about the US budget deficit when the US's large-scale tax and spending "super bill" was passed by the House of Representatives. The nearly 1,000-page bill, focusing on tax cuts and increased spending, is expected to increase the total US national debt by about 3,300 billion USD in the next decade, from the current level of more than 36,000 billion USD.

At the same time, concerns about the instability of the tariff policy that US President Donald Trump is preparing to apply to trade partners have also increased the demand for shelter. However, the gold price's rise is under pressure to adjust when newly released employment data shows that the US labor market is still positive. In June, the US economy created 147,000 more jobs, higher than forecast, while the unemployment rate unexpectedly fell to 4.1%. This makes investors expect the US Federal Reserve (Fed) to keep interest rates unchanged in the upcoming meetings.

According to the price list posted by Saigon Jewelry Company (SJC), the price of gold bars was traded at 118.9 million VND/tael for buying and 120.9 million VND/tael for selling, down 400,000 VND each way compared to the previous session. The price of round gold rings also recorded similar developments.

Source: https://baodautu.vn/ty-gia-usdvnd-tiep-tuc-tang-nhiet-nhieu-ngan-hang-ban-ra-26370-vndusd-d321708.html