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USD rate on March 18: Two consecutive days of deep decline

The second day in a row, the State Bank of Vietnam adjusted the dollar to fall sharply right after the interest rate hike from the Fed. However, the exchange rate of commercial banks and the free market decreased slightly today.

March 18the State Bank announced central rate of Vietnam Dong to USD at: 23,142 dong, down 25 dong compared to yesterday.

USD exchange rate today refer to the SBV’s Exchange for buying – selling: 22,550 dong – 23,050 dong.

USD rate At commercial banks buy and sell as follows:

Buy intoSold out
Vietcombank22,730 VND23,010 VND
Vietinbank22,725 VND23,005 VND
BIDV22,735 VND23,015 VND

USD exchange rate table at commercial banks

On the free market recorded a downtrend. Buying price – selling price currently popular at 23,400 – 23,450 dong/USD, down 20 dong in both buying and selling directions compared to yesterday.

At the beginning of the trading session on March 18 on the US market (the night of March 17, Vietnam time), the US Dollar Index (DXY), measures the volatility of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 98.04 points, up 0.07% compared to the end of yesterday session.

USD rate on March 18: Two consecutive days of deep decline

With an interest rate increase of 25 percentage points, many people fear that the US will find it difficult to control inflation when it is at a peak of 7.9%, the highest after 40 years. Before that, many people expected the Fed to increase to 50 percentage points, an increase that could appease the American people.

Experts fear that the market is bullish on the Fed’s decision could change in the coming quarters and there’s a lot that has been priced in for the Fed’s short-term interest rate market this year. That put pressure on the greenback.

More. Many predictions suggest that the US and some other countries will slow down their economic growth due to conflict between Russia and Ukraine.

In addition, the act of imposing US and Western sanctions on Russia on both air and sea routes; while China still temporarily closes cities that have a strong economic impact to implement the zero covid policy, causing disruptions in the global supply chain of goods. Therefore, it is difficult for businesses to access input materials and sell output products. Therefore, products will be sold to a high level, causing global production to increase

On the domestic market, at the end of the trading session on March 17, the State Bank announced the central exchange rate of Vietnam Dong to USD at: 23,167 VND.

Reference exchange rate at the SBV’s Exchange for buying and selling of USD: 22,550 VND – 23,050 VND.

The USD exchange rate at buying and selling commercial banks is as follows:
Vietcombank: 22,740 VND –23,020 VND
VietinBank: 22,734 VND –23,014 VND
BIDV: 22,740 VND – 23,020 VND

Ngoc Cuong

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