USD price suddenly increased to 23,400 dong, Why?

Viet News - From 23,330 VND / USD yesterday, today 7-5, the selling price of USD at Vietnamese banks suddenly increased from 50 to 55 VND / USD. There are listed banks selling prices exceeding 23,400 VND / USD.

Vietnam business

Viet News - From 23,330 VND / USD yesterday, today 7-5, the selling price of USD at Vietnamese banks suddenly increased from 50 to 55 VND / USD. There are listed banks selling prices exceeding 23,400 VND / USD.

At Sacombank, the price of selling USD is at 23,407 VND / USD. This is also the highest selling price of USD in the market today. Vietinbank listed USD selling price at 23,396 VND / USD.

At Vietcombank, the USD selling price increased to VND 23,390 / USD, an increase of VND 55 / USD compared to yesterday. Meanwhile, Eximbank increased the USD selling price by 50 dong to 23,380 dong / USD.

The purchase price of USD in cash and bank transfer also increased rapidly, ranging from 23,280-23,296 VND / USD.

The increase in USD price of banks dragged the USD price in the free market up. However, the free USD price is still lower than the bank USD price, sold at 23,360 dong / USD, bought at 23,300 dong / USD.

Before the holidays of April 30 and May 1, the bank's dollar price had rebounded sharply, then "softened" again. Up to now, USD price has increased, why?

Talking with Viet-News.com, banks said that resonating many factors, including the demand for USD to pay import goods increased. Earlier in April, the amount of foreign currency from exports was quite large, banks sold a large amount of foreign currency to the State Bank.

At this point, the demand for USD is greater and banks are self-balancing, not to the point that the State Bank has to sell. However, more demand has pushed up the USD price. At this point, when the foreign currency market is supplemented by import and export payment, or foreign indirect investment, the USD price will fall back.

Another reason for the sudden increase in USD price at the beginning of May was attributed to the policy of narrowing the number of borrowers to USD according to Circular 42 of the State Bank of Vietnam.

Accordingly, the demand for short-term loans to pay for the import of goods and services is to implement goods production and trading plans to serve domestic demand when borrowers have enough foreign currency from their revenues. Export and business to repay the loan is no longer done.

Instead of borrowing these subjects, they will have to buy a lot of foreign currencies, leading to an increase in the demand for buying foreign currencies. However, according to banks, this is what has been predicted before.

Today, the central exchange rate by the State Bank also increased by 10 VND / USD, to the highest level ever: 23,040 VND / USD and is approaching the listed USD selling price at banks.

The buying and selling rate of USD by the State Bank of Vietnam Transaction Center also increased, at VND 23,681 / USD (sold out) and VND 23,200 / USD (bought in).


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Breaking Vietnam news | Vietnam's #1 News Site | Viet-News.com: USD price suddenly increased to 23,400 dong, Why?
USD price suddenly increased to 23,400 dong, Why?
Viet News - From 23,330 VND / USD yesterday, today 7-5, the selling price of USD at Vietnamese banks suddenly increased from 50 to 55 VND / USD. There are listed banks selling prices exceeding 23,400 VND / USD.
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