Bank USD price continues to increase to the ceiling

The central exchange rate today (April 16) was announced by the State Bank at 24,141 VND/USD, an increase of 45 VND compared to yesterday's listed rate.

With a margin of 5%, commercial banks are currently allowed to trade at a ceiling rate of 25,348 VND/USD and a floor rate of 22,934 VND/USD.

The selling rate was also increased by 48 VND by the State Bank of Vietnam, bringing the buying and selling range to 23,400-25,298 VND/USD.

USD/VND exchange rate at commercial banks continues to be adjusted upward.

Notably, on the morning of April 16, many major banks continued to raise the USD price to the maximum allowed level and far exceeded the reference selling price at the State Bank of Vietnam.

According to a survey at 11:00 a.m. on April 16, Vietcombank listed the USD price at 24,978-25,348 VND/USD (buy - sell), an increase of 118 VND in both directions compared to the morning of April 15. This is also the highest listed USD price at this bank so far.

VietinBank this afternoon raised the USD price by 182 VND for buying and 85 VND for selling compared to yesterday morning, buying at 25,025 VND/USD and selling at 25,348 VND/USD.

Techcombank buys USD at 25,082 VND/USD, sells at 25,348 VND/USD, up 160 VND in buying and 78 VND in selling compared to the morning of April 15.

Sacombank listed the USD price at 25,065-25,345 VND/USD (buy - sell), up 185 VND for buying and 75 VND for selling compared to yesterday morning.

Thus, this is the second consecutive session that the USD exchange rate at many banks is listed at the ceiling price. Of which, the banks with the highest selling prices are all from the Big4 group. This shows that the pressure on the foreign exchange market is still great.

The USD price in the free market also increased. The free USD price is commonly traded around 25,470-25,560 VND/USD (buy - sell). Compared to the previous session, the free USD price today increased by 20 VND for buying and 50 VND for selling.

The difference between USD prices in the free market and banks has narrowed.

The buying price of USD in the free market is about 400 VND higher than that of commercial banks. The selling price of USD in the free market is more than 200 VND higher than that of banks.

In the international market, the USD price continued to increase today. The USD reached its highest level since November 2023 thanks to the demand for safe haven amid increasing geopolitical tensions in the Middle East.

The US Dollar Index (DXY) - measuring the greenback's fluctuations against six major currencies - at 11:29 a.m. on April 16 (Vietnam time) was at 106.33 points, up 0.12% from the previous session.