Free Market USD Rate Exceeds Banks
The US dollar exchange rate at many unofficial foreign exchange points increased to 25,900 - 26,200 VND this weekend. This rate now surpasses that offered by banks, marking a change after four consecutive months of lower trading.
This weekend, the US dollar exchange rate at numerous unofficial foreign exchange points saw a notable increase, reaching between 25,900 and 26,200 Vietnamese dong. This adjustment has pushed the USD rate in the free market above the levels quoted by commercial banks. This development is significant, as for the preceding four months, the USD exchange rate at these unofficial trading points consistently remained lower than that offered by the official banking system. The rise of the free market USD rate above bank rates indicates volatility in the foreign exchange market, potentially reflecting current demand or market sentiment. Unofficial foreign exchange points often operate independently and can react more swiftly to retail supply and demand factors. This differential could impact informal foreign exchange transactions and the sentiment of individuals needing to buy or sell USD. It also raises questions about exchange rate stability and the roles of various trading channels in the market.
Key points
* Free market USD rate reached 25,900 - 26,200 VND/USD.
* This rate is now higher than bank rates.
* It's the first time in four months the free market rate surpassed banks.
Nguồn / Source: VnExpress - Kinh doanh
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