In the first 6 months of 2025, the central exchange rate announced daily by the State Bank increased by 713 VND (equivalent to 2.9%). The selling rate at commercial banks, such as the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ), increased by 719 VND (2.8%). Meanwhile, the USD exchange rate on the free market increased slightly lower, about 620 VND (2.4%). The reason is explained by the fact that investors still have the mentality of "hoarding" foreign currencies.
In the last trading week of June alone, even with 4/5 consecutive sessions of decline, it could not compensate for the strong increase of 30 VND in the session on June 24. In this trading session, the USD exchange rate reached a historical "peak" of 25,058 VND/USD. Overall, the central exchange rate continued to increase compared to the previous week, with an increase of 17 VND, bringing the central exchange rate to 25,048 VND/USD.
Closing the last week of June, the central exchange rate was 25,048 VND/USD. With a trading band of 5%, the ceiling exchange rate was 26,300 VND/USD and the floor exchange rate was 23,796 VND/USD.
At the State Bank of Vietnam, the reference exchange rate is listed at 23,846 VND/USD (buy) and 26,250 VND/USD (sell). For commercial banks, such as at the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), the listed exchange rate is 25,880 VND/USD (buy) - 26,270 VND/USD (sell); The Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ) listed it at 25,910 VND/USD (buy) - 26,270 VND/USD (sell).
Thus, last week, the USD exchange rate at banks decreased slightly by 12 VND, while the exchange rate on the free market increased by 60 VND, exceeding the listed exchange rate, commonly trading at 26,370 - 26,470 VND/USD, higher than the exchange rate at banks.
In contrast to the domestic market, in the international market, the DXY index measuring the "health" of the USD against 6 other major currencies in the international currency basket fell 1.5% last week, down to 97.27 points. In the first half of 2025, the DXY index fell nearly 9%, equivalent to a decrease of 11.2 points.
In contrast to the USD, the prices of strong currencies such as EUR, GBP, and JPY all increased sharply by 11% - 15% compared to VND. Specifically, at Vietcombank, the EUR exchange rate increased to 29,764 VND/EUR (buy) - 31,364 VND/EUR (sell), an increase of 3,912 VND in the buying direction and 4,073 VND in the selling direction, equivalent to an increase of about 15%.
The GBP (British Pound) exchange rate also increased sharply, to 34,940 - 35,293 VND/GBP, an increase of 3,789 VND for buying and 3,923 VND for selling, equivalent to an increase of 11.2%. The JPY (Japanese Yen) exchange rate increased to 174.42 - 185.5 VND/JPY, an increase of 17.56 VND for buying and 19.38 VND for selling, equivalent to about 11%.
Obviously, while the USD "fell" in value on the international market, the domestic exchange rate continued to increase. Experts explained that the reason for the pressure on the exchange rate did not come from external factors, but from internal developments in the market, possibly due to the speculative psychology of foreign currencies by domestic investors.
Source: https://hanoimoi.vn/6-thang-ty-gia-trung-tam-tang-2-9-van-con-tam-ly-gam-ngoai-te-707135.html
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