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Sunday, April 21, 2024

U.S. dollar climbs to record high against Vietnamese dong

The Saigon Times

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HCMC – The U.S. dollar has soared against the Vietnamese dong to an all-time high of over VND25,000 per dollar at commercial banks.

The State Bank of Vietnam (SBV) today, April 3, quoted the dong-dollar exchange rate at VND24,040 per dollar, an uptick of VND15.

Commercial banks are permitted to trade U.S. dollars within the trading band of 5% on either side of the SBV-quoted exchange rate. This means they can trade the greenback at between VND22,838 and VND25,242 per dollar.

Notably, exchange rates at commercial banks are currently at their highest levels ever recorded. Vietcombank is buying the dollar at VND24,750 and selling at VND25,120, up by VND70 compared to the previous day.

At Eximbank, the exchange rate is capped at VND24,750 and VND25,140 for buying and selling, respectively, up by VND60 per dollar against yesterday.

The U.S. dollar has been steadily moving up against the Vietnamese dong since the beginning of the year and the rise has intensified in the last two days, following the SBV’s decision to halt issuing Treasury bills.

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