Free USD is the most expensive on record, approaching 24,000 VND/USD

On the free market, the USD exchange rate continued to increase strongly. On May 11, some foreign currency exchange points on Ha Trung Street (Hoan Kiem District, Hanoi) announced to buy USD at 23,850 VND/USD, and sell it at 23,900 VND/USD.

So, USD rate On 11/5, it continued to increase strongly by 100 dong in buying afternoon and 110 dong selling in selling direction compared to the previous session. The difference between buying and selling was narrowed to only 50 VND/USD, showing that the demand for USD in the free market is very large. Compared to last week, the price of USD on the free market has increased by 100 dong in the buying side and 150 dong/USD in the selling side.

Meanwhile, the central exchange rate listed by the State Bank on May 11 is 23,141 VND/USD, down 2 VND compared to yesterday. With a fluctuation range of +/-3%, the exchange rate banks are allowed to trade in ranges from 22,447 to 23,835 VND/USD.

At the State Bank’s Transaction Office, the USD price on May 11 was traded in the price range of 22,550 – 23,250 VND/USD (buying – selling).

At commercial banks, the greenback rate on May 11 was adjusted sharply. Specifically, at Vietcombank, the USD exchange rate was traded at 22,890 – 23,200 VND/USD (buying – selling), up to 110 VND in both directions compared to the closing session yesterday afternoon.

Similarly, BIDV Bank announced the USD exchange rate on May 11 for buying and selling at 22,950 – 23,230 VND/USD, an increase of 140 VND in buying and selling direction compared to yesterday’s closing.

At Eximbank, the USD/VND exchange rate closed the session on May 11 at 22,950 – 23,170 VND/USD, an increase of 120 dong in the buying side and 140 dong in selling compared to yesterday’s closing price.

The exchange rate of USD/VND at the end of trading session on May 11 at Agribank was 22,790 VND/USD (buying in) and 23,075 VND/USD (selling out).

Thus, compared to the bank rate, the USD price in the free market is at most 1,060 VND/USD in the selling side and 825 VND/USD in the buying side.

On the world market, the USD was also traded at a high level. The USD-Index, which measures the strength of the greenback in the trading session on May 11 at 103.92 points, increased by 0.23 points compared to yesterday.

The dollar hit a new 20-year high earlier this week. The main reason comes from the US Federal Reserve (Fed) sharply increasing the base interest rate to control inflation.

In addition, the conflict between Russia and Ukraine, China’s blockade in response to the Covid-19 epidemic, rising oil prices … also made the dollar appreciate.

Handsome

For two consecutive days, the exchange rate fell deeply, a strong move from the State Bank

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.