Bank USD price drops rapidly following world price

The central exchange rate announced by the State Bank on December 22 was 23,915 VND/USD, down 5 VND/USD compared to yesterday.

Applying a 5% margin, commercial banks today are allowed to trade at a ceiling rate of VND25,111/USD and a floor rate of VND22,719/USD.

The State Bank of Vietnam's reference buying rate remains unchanged at VND23,400/USD. The reference selling rate has decreased by VND5 compared to yesterday, down to VND25,061/USD.

In line with the trend, the USD/VND exchange rate at commercial banks today dropped rapidly, with a common amplitude decreasing by 70-76 VND compared to yesterday morning (December 21). The USD selling price at banks has all fallen close to the 24,400 VND/USD mark.

Specifically, early this afternoon, Vietcombank listed the USD price at 24,060-24,430 VND/USD (buy - sell), down 70 VND/USD in both buying and selling compared to yesterday morning.

At the same time, Vietinbank traded USD at 24,024 VND/USD (buy) and 24,444 VND/USD (sell), down 76 VND/USD in both directions compared to the morning of December 21.

Techcombank bought USD at 24,094 VND/USD and sold at 224,438 VND/USD, down 75 VND/USD in both directions.

Sacombank listed the USD price at 24,055-24,410 VND/USD (buy - sell), down 75 VND/USD in both directions compared to the morning of December 21.

In the free market, the USD price today is commonly traded around 24,670-24,720 VND/USD (buy - sell), down 20 VND in both buying and selling compared to the previous session.

It can be seen that the USD price in the free market is much higher than that in commercial banks. The USD buying price in the free market is about 500-600 VND/USD higher than that in banks, while the USD selling price in the free market is nearly 300 VND higher.

In the international market, the USD price today tends to slow down after falling rapidly yesterday.

The US Dollar Index (DXY) - measuring the fluctuations of the US dollar against a basket of six major currencies - at 2:00 p.m. today (December 22, Vietnam time) was at 101.85 points, almost unchanged from the previous session.

The US dollar fell to a one-week low on Thursday after data showed US gross domestic product (GDP) grew at a 4.9% annual rate in the previous quarter, while weekly jobless claims rose slightly.