Banks have cut their USD buying and selling rates for eight straight days, lowering them by nearly 100 dong in total, to 25,560–25,970 dong, the lowest in about a year and a half. Some banks also lowered their selling rate to 25,940 dong, while the State Bank's central reference rate of 25,630 dong fell for a fourth consecutive session. On the free market, rates edged up to around 26,000–26,200 dong as year-end remittance inflows rose. Analysts cite a trade surplus, record FDI and strong GDP growth as support for the dong, but pressure remains as the USD is expected to strengthen in the final months of the year on high oil prices and expectations the Fed will keep rates high. UOB forecasts the year-end rate at 26,300 dong, while MB Securities projects 26,800–27,000 dong.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Tỷ giá ngân hàng lao dốc
Read the original on VnExpress ↗
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exchange ratesUS dollarState Bank of VietnamVietnamFed
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- SJC gold prices differ from one place to another
On the afternoon of October 15, SJC gold bars were quoted at 143.3 million VND per tael for selling, unchanged, but buy-sell spreads widened from 3 million to nearly 5 million VND per tael. Saigon Gold and Gems (SJC) listed 140.3–143.3 million VND, Phu Quy 139.8–143.3 million with a 3.5 million spread, and Bao Tin Minh Chau 138.6–143.3 million with a 4.7 million spread, the widest in the market. Ring gold also varied by brand, with Bao Tin Minh Chau at 138.6–142.6 million, DOJI at 139–143 million and Phu Quy at 139.8–142.8 million VND per tael. The State Bank set the central USD rate at 25,642 VND, down 4 dong, while Vietcombank quoted 25,700–26,080 VND per USD, down 20 dong on both sides.
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