The greenback continues to strengthen against the Vietnamese Dong (VND) as the exchange rate hits the ceiling limit across commercial banks this morning.

At noon, Vietcombank posted rates ranging from VND24,978 to VND25,348 for buying and selling, marking an increase of VND168 from yesterday. Similarly, BIDV's rates were recorded at VND25,036 to VND25,346, while Vietinbank's rates stood at VND25,020 to VND25,348.

The State Bank of Vietnam (SBV) official rate was posted at VND24,141, an increase of VND45 since yesterday. Under the +/-5 per cent margin, banks are implementing a ceiling exchange rate of VND25,348 per dollar and a floor exchange rate of VND22,933 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 currently maintains a sideways movement around the 106-point threshold.

From April 12 onward, the US dollar has been strengthened against the VND for four consecutive days from an exchange rate of VND24,096.

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