USD exchange rate sets new level, surpassing 26,500 VND mark

As of 3:00 p.m. this afternoon, Vietcombank announced the USD exchange rate from 26,166-26,536 VND/USD, an increase of 36 VND compared to the previous closing price.

The State Bank will closely monitor exchange rate developments to proactively regulate. Photo: Vietnam+

The USD price sold at commercial banks exceeded 26,500 VND/USD to 26,536 VND/USD. This is the 4th consecutive session that the USD exchange rate has increased and has increased by more than 100 VND.

The central exchange rate today (August 21) was raised by the State Bank by 10 VND, reaching a new peak of 25,273 VND/USD, up 0.1% compared to the beginning of the month. With a 5% amplitude, the current USD exchange rate that commercial banks are allowed to trade is from 24,009-26,537 VND/USD. The reference buying and selling exchange rate was also raised by the State Bank Exchange to 24,060-26,486 VND/USD.

As of 3:00 p.m. this afternoon, Vietcombank announced the USD exchange rate from 26,166-26,536 VND/USD, up 36 VND compared to the previous session. Vietinbank and BIDV traded from 26,235-26,536 VND/USD (buy/sell), also up 30 VND; Eximbank listed from 26,210-26,536 VND/USD (buy/sell), up 26 VND compared to the previous session. Thus, the USD buying and selling exchange rate has increased by more than 100 VND in the week so far.

Meanwhile, the USD Index (DXY), a measure of the greenback's strength against other major currencies, fell to 98.27 as of 7 a.m. (Vietnam time), down 4.7% from its peak of more than 103 points in April.

Explaining the increase in USD price in the context of abundant foreign currency resources, as well as going against the downward trend in the world market, Dr. Nguyen Tri Hieu, a financial expert, said that, in theory, when the USD price decreases, the VND increases in value.

However, the reality is the opposite, the domestic USD price is still increasing despite the high foreign currency source, which may come from concerns about liquidity in the market. Normally, the average foreign exchange reserve must reach 3 months of imports, but in the first 3 months of the year, the import figure increased to 105 billion USD, in 7 months it increased to 252.26 billion USD while the foreign exchange reserve is less than 100 billion USD. In addition, the rapid increase in imports will also push up the demand for foreign currency to pay for orders.

Vietnam Construction Securities Company (CSI) believes that the VND will continue to depreciate despite the cooling of the USD in the international market, as Vietnam implements a loose monetary policy to support growth. This unit forecasts that the depreciation trend of the VND may last until the end of the year, with an increase of about 3% - 3.5%.

On the contrary, Yuanta Vietnam Company believes that pressure on exchange rates will cool down thanks to the weakening of the international USD, after many negative US economic data and the market expectations that the Federal Reserve (Fed) will cut interest rates by 0.25 percentage points in September.

Previously, the State Bank's leaders admitted that the exchange rate is under considerable pressure, due to the dual impact of economic factors and market psychology. Pressures and challenges from both outside and inside the country are affecting monetary policy management in 2025. Major financial institutions have continuously warned about the prospect of weakening global growth.

Although global inflation has cooled down somewhat, the risk of a rebound remains, especially when US tariff policies change rapidly. The global economy and trade have declined significantly, negatively affecting export activities - one of the main drivers of Vietnam's economic growth. At the same time, the international financial and monetary markets have been unpredictable, not only causing psychological impacts but also having a profound impact on the economic foundation.

"In that context, if the pressure continues to increase, the State Bank will consider not further reducing interest rates to avoid affecting exchange rate stability, thereby causing macroeconomic instability. The State Bank will closely monitor developments, and depending on each stage, set appropriate priorities, aiming at the common goal of macroeconomic stability, supporting sustainable economic growth," said the State Bank leader.

PV (synthesis)

Source: https://baohaiphong.vn/ty-gia-usd-thiet-lap-mat-bang-moi-vuot-moc-26-500-dong-518731.html