US dollar continues gaining against VNĐ, hitting exchange ceiling

April 16, 2024 - 12:25
The exchange rates offered by the major banks have all hit the prescribed ceiling.
The greenback has gained 3.6 per cent against the VNĐ since the beginning of 2024. — VNA/VNS Photo

HÀ NỘI — The greenback continues to strengthen against the Vietnamese đồng (VNĐ) as the exchange rate hit the ceiling limit across commercial banks this morning.

At noon, Vietcombank posted rates ranging from VNĐ24,978 to VNĐ25,348 for buying and selling, marking an increase of VNĐ168 from yesterday. Similarly, BIDV's rates were recorded at VNĐ25,036 to VNĐ25,346, while Vietinbank's rates stood at VNĐ25,020 to VNĐ25,348.

The State Bank of Vietnam (SBV) official rate was posted at VNĐ24,141, an increase of VNĐ45 since yesterday. Under the +/-5 per cent margin, banks are implementing a ceiling exchange rate of VNĐ25,348 per dollar and a floor exchange rate of VNĐ22,933 per dollar.

On April 15, the exchange rate experienced significant fluctuations following a week of pronounced dollar gains. The US Dollar Index (DXY), gauging the greenback's strength against a basket of six major currencies, surged by 2.6 per cent last week and presently maintains a sideways movement around the 106-point threshold.

Frome April 12 onward, the US dollar has been strengthening against the VNĐ for four consecutive days from an exchange rate of VNĐ24,096.

Since the beginning of the year, the greenback has gained 3.6 per cent against the VNĐ, pushing the exchange rate to the ceiling limit set by the central bank. — VNS