Banks today are selling the US dollar around 26,150 dong, a sharp decrease from early this week, reaching its lowest level since February.

For the first time in many years, unofficial foreign exchange points are listing both buy and sell prices for the US dollar lower than commercial banks, with transactions hovering around 26,000 - 26,200 dong.

The yen rose for the third consecutive session against the US dollar, days after the US and Japan jointly intervened in the foreign exchange market.

The State Bank of Vietnam this morning increased the central exchange rate to 25,306 dong, its highest level ever, while commercial banks listed around 26,540 dong, approximately 30 dong below the previous peak.

The central USD/VND exchange rate, announced by the State Bank of Vietnam, rose by 10 dong, surging to 25,293 dong, just 5 dong shy of the record set last year.