As the trading week of July 27-31 comes to a close, the USD exchange rate in the free market has dropped to its lowest level since the beginning of the year. Concurrently, the bank exchange rate has decreased by 50 VND/USD in both buying and selling directions, contrasting with the upward trend of the central exchange rate. This development reflects a reduction in domestic exchange rate pressures, even as risks from Federal Reserve policies and oil prices remain present.

On July 31, the State Bank of Vietnam announced the central exchange rate for USD/VND at 25,338 VND/USD, which is an increase of 18 VND compared to the previous day. Consequently, the ceiling exchange rate is set at 26,604 VND/USD. However, the situation at commercial banks has been different, with a survey of over 30 banks indicating a decrease of 20 VND/USD in both buying and selling rates.

The cash purchase price of USD at banks ranges from 26,005 to 26,030 VND/USD, while the selling price is between 26,280 and 26,300 VND/USD. This decline in the USD exchange rate is attributed to several factors, including the stabilization of the black market and a decrease in demand for foreign currency.

Analysts suggest that better control of the black market will help stabilize the exchange rate further. As the market adjusts to these changes, it is crucial for stakeholders to remain vigilant about the ongoing risks associated with global economic policies and commodity prices.