The State Bank of Vietnam raised the central exchange rate by 8 VND from the previous session, setting it at 25,263 VND/USD, the highest level on record. With a trading band of ±5%, banks were allowed to transact between 24,000 and 26,526 VND/USD.

The central bank’s exchange desk also adjusted its rates, quoting 24,050 VND/USD on the buying side and 26,476 VND/USD for selling, up 7 and 9 VND respectively.

At Vietcombank, the dollar rose by 20 VND to 26,110 VND/USD for cash buying and 26,500 VND/USD for selling. VietinBank posted rates at 26,149-26,509 VND/USD, up 22 VND. Techcombank quoted 26,133-26,526 VND/USD, after increasing by 30 VND on buying and 28 VND on selling. Sacombank followed with 26,150-26,510 VND/USD, higher by 25 VND compared to yesterday.

Meanwhile, the free market showed little change, with the greenback trading around 26,510-26,580 VND/USD, steady from the previous session.

Globally, the US Dollar Index, which tracks the greenback against major currencies, edged up 0.05% to 98.32 points as of 12:52 p.m. (Vietnam time). Investors are awaiting the Federal Reserve’s Jackson Hole Economic Policy Symposium later this week for fresh clues on US interest rate policy, which could further influence currency markets.

Hanh Nguyen