VINACHEM

The USD price in the free market has surged past 26,000 VND/USD (selling), marking its highest level ever. This new peak sees the free USD price nearly 700 VND higher in the buying direction compared to bank rates.

While USD prices at commercial banks remain stable, the free market has seen a sharp increase. Early on June 27, foreign exchange points in the free market traded USD at 25,950-26,030 VND/USD (buying - selling), setting a new record.

Compared to the previous session, the free USD price increased by 70 VND in both buying and selling directions.

Analysts attribute this spike to the strong performance of the USD in the international market and the increased demand for USD to import gold through border trade. This demand is driven by domestic gold prices being 3-5 million VND/tael higher than world prices.

In contrast, the USD prices in the official market are showing signs of cooling down.

On June 27, the State Bank of Vietnam (SBV) announced a central exchange rate of 24,264 VND, up 6 VND from the previous session.

Commercial banks are allowed to trade within a ceiling rate of 25,477 VND/USD and a floor rate of 23,050 VND/USD, applying a 5% margin. The State Bank's Transaction Office maintains buying and selling exchange rates within the range of 23,400-25,450 VND/USD.

Commercial banks adjusted USD buying and selling prices narrowly. The selling price reached the ceiling across all banks.

This morning, Vietcombank listed USD cash buying at 25,227 VND/USD and selling at 25,477 VND/USD, both up 7 VND from the previous morning (June 26).

VietinBank's rates were 25,257-25,477 VND/USD, with a 22 VND increase in buying price and a 7 VND increase in selling price compared to the previous morning.

In the private joint stock commercial bank sector, Techcombank bought USD cash at 25,241 VND/USD and sold at 25,477 VND/USD, down 5 VND in buying but up 7 VND in selling from the morning of June 26.

Sacombank listed USD at 25,279-25,477 VND/USD (buy - sell), with a 1 VND decrease in buying and a 7 VND increase in selling compared to the previous morning.

The USD buying price at banks is currently about 700 VND lower, while the selling price is 553 VND lower than in the free market.

In the global market, the USD price cooled down today after a significant increase in the previous session. The US Dollar Index, which measures the USD against six key currencies, was at 105.96 points at 10:31 am on June 27 (Vietnam time), down 0.09% from the previous session.  – VNN –