Exchange rate on the free market increased sharply

On September 1, the State Bank announced the central exchange rate at 25,240 VND/USD, unchanged from the session before the holiday.

The USD exchange rate in the free market reversed and increased sharply in both buying and selling directions. In the Hanoi market, the USD was traded (buying - selling) at around 26,740 - 26,820 VND/USD, an increase of 65 VND/USD in both buying and selling directions.

The reference exchange rate at the State Bank of Vietnam is currently 24,028 VND/USD - 26,452 VND/USD. Meanwhile, in the world market, the USD Index (DXY) measuring the greenback's fluctuations against 6 major currencies increased by 0.13%, at 97.86 points.

The central rate remains unchanged. Illustrative photo.

According to experts, the first week of September will be the period when the market places strong bets on interest rate cuts from the US Federal Reserve (FED).

In addition to economic factors, the political situation in the US is also unfavorable for the USD. However, some positive economic data such as lower-than-expected unemployment claims helped the USD recover in the short term. In addition, if in September the FED sends a more cautious signal, emphasizing that the cuts will be gradual rather than drastic, the USD could rise again.

Source: https://hanoimoi.vn/ty-gia-tren-thi-truong-tu-do-tang-manh-714771.html