The USD price difference between banks and the black market is unprecedentedly low

(PLO) – While the price of US dollars at commercial banks is still anchored at the ceiling level, on the black market, the price of USD has reversed and plummeted, causing the difference in the selling price of USD in the two markets. The market fell to an unprecedented low.

This morning, the central exchange rate of VND against USD was listed by the State Bank at 24,274 VND, down slightly by 1 VND compared to yesterday, but increased by 270 VND compared to early April.

Along with that, USD prices at commercial banks show no signs of cooling down. At Vietcombank, the USD trading price was announced at 25,147 – 25,487 VND/USD, a slight decrease of 1 VND in both directions compared to the previous session’s closing price. Similarly, Eximbank also anchored the selling price at a ceiling high of 25,487 VND/USD and buying price at 25,160 VND/USD…

On the free market, after the USD selling price rose to a record high of 25,890 VND/USD on April 22, USD price Today, selling is only about 25,630 VND/USD and buying is at 25,550 VND/USD, down 260 VND per USD compared to two days ago. At the same time, the difference between buying and selling prices was also narrowed from 100 VND to 80 VND per USD.

Opposite developments between the two markets caused the difference in USD selling price at commercial banks and the black market from over 300 VND last week to nearly 150 VND. This is an unprecedentedly low gap between the formal and informal markets.

On the international market, the USD-Index (DXY) index measuring greenback fluctuations with 6 major currencies is fluctuating around 105.6 points, down 0.39% compared to a day ago, but compared to with the beginning of the year increased to 4.2%. In addition, the US 10-year Treasury bond interest rate has also continued to remain at a high level, nearly 4.5%/year.

Ms. Vu Thi Huynh Mai – Head of the Committee for Overseas Vietnamese in Ho Chi Minh City said: “Ho Chi Minh City is a locality with contact with about 50% of Vietnamese people living abroad out of a total of about 5.8 Millions of Vietnamese people live and work in 130 countries and territories, of which more than 80% are living in developed industrial countries – economic, science and technology, education and training centers of Vietnam. world.

This is also the center attracting the largest amount of remittances in the country. Every year, remittances flowing to the city always account for 38 – 53% of the total amount of remittances transferred to Vietnam, with an average increase of 3% – 7%. %/year; In 2023 alone, the remittance growth rate will be 43.3% compared to 2022,” Ms. Mai said.

According to the latest information from the State Bank of Vietnam Ho Chi Minh City branch, in the first 3 months of this year remittances transferred to Ho Chi Minh City reached nearly 2.87 billion USD, up 3.5% compared to the end of last year and up 35.4%. Compared to the same period, this is also the highest growth rate in the last 3 years.