AsemconnectVietnam - The US dollar has continued to strengthen against the Vietnamese dong (VND) as the exchange rate hit the ceiling limit across commercial banks on April 16 morning.

At noon, Vietcombank posted rates ranging from 24,978 VND to 25,348 VND for buying and selling, marking an increase of 168 VND from April 15. Similarly, BIDV's rates were recorded at 25,036 VND and 25,346 VND, while Vietinbank's rates stood at 25,020 VND and 25,348 VND.
The State Bank of Vietnam (SBV)’s official rate was posted at 24,141 VND, an increase of 45 VND from the previous day. Under the /-5% margin, banks are implementing a ceiling exchange rate of 25,348 VND per US dollar and a floor exchange rate of 22,933 VND per US 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% last week and presently maintains a sideways movement around the 106-point threshold.
Since April 12, the US dollar has been strengthening against the Vietnamese dong for four consecutive days from an exchange rate of 24,096 VND per US dollar.
Since the beginning of the year, the greenback has gained 3.6% against the Vietnamese dong, pushing the exchange rate to the ceiling limit set by the central bank.
Source: Vietnamplus.vn