Freedom continues to increase

USD prices at commercial banks have changed little, Eximbank buys at 23,240 - 23,320 VND, sells at 23,620 VND; Vietcombank buys at 23,280 - 23,310 VND, sells at 23,650 VND... USD prices on the free market continue to increase by 25 VND, buy at 23,427 VND, sell at 23,525 VND. The rate of increase in the free USD price has been quite fast in recent days.

Free USD price continues to increase

In the interbank market, USD trading turnover during the week (from May 15 to 19) increased by VND451 billion/day compared to the previous week, reaching about VND374,597 billion, an average of VND74,919 billion/day. USD interest rates are about 0.05%/year higher than VND in some terms under 1 month. USD interest rates for overnight terms are at 4.85%/year, 1 week 4.85%, 2 weeks 4.96%, 1 month 5.1%. For terms of 3 months or more, USD interest rates are 1 - 1.3%/year lower, specifically 3-month terms have interest rates of 5.32%/year, 6 months 6.3%...

The USD price on the international market increased compared to other currencies, the USD-Index increased by 0.3 points to 104.18 points. Positive economic information released by the US supported the greenback's increase. The US GDP in the first quarter achieved better results than expected, increasing by 1.3% compared to the expectation of increasing by 1.1%. In addition, the number of weekly unemployment claims was much lower than market expectations. The number of unemployment claims increased by 4,000 last week to 229,000, lower than Reuters' estimate of 225,000.

In addition, investors sought refuge in the US dollar as the market remained worried that US lawmakers and the administration had not yet reached an agreement on extending the government debt. However, the House of Representatives said negotiators were making progress on the issue. Reuters also reported that Democrats and Republicans were getting closer to a deal.

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