In the past 3 days, the central rate has increased by about 48 VND/USD.
USD price in commercial banks also continued to go up. Currently, Vietcombank is trading at USD price, buying 23,780 VND/USD, selling 24,060 VND/USD, an increase of 40 VND per USD compared to yesterday.
Eximbank listed the buying price of USD at a higher price of 23,830 VND/USD and selling it at 24,060 VND/USD.
Sacombank traded USD at a higher level of 23,835 VND/USD bought, 24,070 VND/USD sold, and the selling price of USD in cash was up to 24,100 VND.
In the past 3 days, USD price in commercial banks increased by about 50 VND/USD.
At foreign currency exchange points in Ho Chi Minh City, the USD price is even hotter when collecting 24,160 VND/USD and selling to 24,380 VND/USD, an increase of about 60 VND compared to yesterday. An employee of a foreign exchange exchange said that the transaction demand is not too great, mainly buyers to travel abroad with a volume of several hundred dollars.
The deputy general director of a joint-stock commercial bank in Ho Chi Minh City also said that the USD transaction has not had a sudden change in recent days, the USD price has gone up in the context that the USD in the international market remains at a record high. Continent and the US Federal Reserve (Fed) continuously raised the base interest rate with this greenback.
In the latest macroeconomic report, experts of Standard Chartered Bank said that the State Bank will continue to tighten monetary policy, possibly raising interest rates more aggressively if inflation continues to increase. and VND depreciated stronger than forecast when the Fed continued to raise the basic interest rate.
"The State Bank will continue to be vigilant against the risks of inflation and financial instability, in addition to supporting businesses to recover from the COVID-19 pandemic" - Mr. Tim Leelahaphan, sub-economist responsible for Thailand and Vietnam, Standard Chartered Bank shared.
According to Standard Chartered Bank, the dong could face many challenges in the short term as the dollar strengthens, commodity prices rise and external demand weakens. However, VND continues to be a strong currency against emerging countries in Asia despite the recent depreciation. It is forecasted that the rate of depreciation of VND will slow down in the coming months. The bank forecasts that the USD/VND exchange rate will reach VND 24,200 by the end of 2022, then decrease to VND 24,000 by the end of the first quarter of 2023 and to about 23,400 by the end of 2023.
Thai Phuong. Photo: Hoang Trieu
