The USD price on the free market decreased by 45 VND in both directions, down to 25,450 - 25,530 VND, the lowest level since mid-April.
This morning, August 16, foreign exchange points in the market simultaneously lowered the buying and selling prices of US dollars. The selling price of USD at some foreign exchange points on Ha Trung Street ( Hanoi ) decreased by 45-50 VND compared to yesterday, down to 25,530-25,550 VND - the lowest level since mid-April. The buying price of 1 USD is around 25,440-25,450 VND.
The free exchange rate has started to decrease sharply in the past month, especially since last weekend. Compared to the peak of nearly 26,000 VND set at the end of June, the free USD price is currently 450-470 VND lower, equivalent to a decrease of nearly 2%.
Meanwhile, the exchange rate increased slightly in the banking market. Vietcombank increased 40 VND in both buying and selling compared to the closing price on August 15, to 24,880 - 25,250 VND. However, compared to the end of last week, the exchange rate of this bank decreased by about 30 VND in both directions.
Similarly, BIDV , Techcombank, and VietinBank also adjusted the greenback trading price today. Each USD sold by these banks is around 25,235-25,250 VND.
In the international market, the USD Dollar Index - an index measuring the strength of the greenback - was at 102.98 points, lower than the level of over 103 points at the end of last week.
The greenback’s strength has recently declined as the US economy has shown signs of weakness and inflation has been lower than expected. This has raised concerns about the risk of a crisis and the possibility that the US Federal Reserve (Fed) will cut interest rates more aggressively in the near future.
The US consumer price index (CPI) increased by 2.9% in July - the first time it has been below 3% since 2021. This further strengthens the possibility of the Fed cutting interest rates at its September meeting.
Previously, job growth in July in the world's largest economy was also significantly slower than forecast, while the unemployment rate rose to its highest level since October 2021.
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