Today, March 7, the State Bank announced the central exchange rate at 23,159 VND/USD, an increase of 8 VND compared to the end of last week. The reference selling rate at the State Bank’s Transaction Office remained unchanged at 22,550 – 23,050 VND/USD.
In the banking market, the VND/USD exchange rate fluctuated in opposite directions.
Surveyed early this afternoon, Vietcombank listed the exchange rate at 22,670 – 22,990 VND/USD, an increase of 10 VND in the selling direction compared to the previous day.
Techcombank and Sacombank both increased by 10 dong in both buying and selling direction, while VietinBank decreased by 5 dong.
The buying price for USD by commercial banks is currently in the range of 22,670 – 22,730 VND/USD, while the selling price is at 22,930 – 23,105 VND/USD. Accordingly, Eximbank has both the highest buying price in USD and the lowest selling price in USD with a specific figure of 22,730 – 22,930 VND/USD.
On the free market, the USD price is currently buying and selling at 23,420 – 23,470 VND/USD, an increase of 20 VND compared to the end of last week.
In the world at the moment, the USD Index, a measure of the greenback’s strength against other major currencies, increased by 2.27% to 98.94 points.
This week, some notable events that may affect the exchange rate are the release of JOLT’s jobs report on Tuesday (March 8) and the unemployment and inflation data of the world’s largest economy. The world is released on Thursday (March 10).
Although unemployment will attract investors’ attention, inflation data is assessed to be the key factor affecting the greenback before the Open Market Committee’s policy decision. Federal Reserve (FOMC) announced next week.
In a recent analysis report, BIDV Securities Company (BSC) said that after a sharp decline at the end of 2021, the value of VND increased strongly again in the month, but began to decline in February. There is a possibility that interest rates will be raised this March, but BSC expects the exchange rate to maintain stable volatility thanks to the high foreign exchange reserves of 108 billion USD and the low difference in the trade balance. , about -0.93 billion USD.
Source: Doanh nghiep va tiep thi