---------------(Lượt truy cập: 38)---------------
The central bank announced a 5-dong reduction in the central exchange rate today. This marks the first adjustment following a three-week upward trend that had pushed the USD/VND reference rate to a record high of 25,566 VND.
This move to cool down the exchange rate follows a meeting held on the morning of August 13 between the Prime Minister and representatives from the State Bank of Vietnam (SBV) and credit institutions. During the meeting, the Prime Minister directed the central bank to manage the exchange rate flexibly in line with market developments, coordinate monetary policy tools effectively, and intervene in the market as needed to stabilize foreign currency levels.
The decline in the central exchange rate aligns with movements in the DXY index. This gauge of the greenback"s strength against other currencies is currently hovering around the 99.8-point mark, a slight decrease from the previous session.
According to Mr. Le Anh Tuan, CEO of Dragon Capital, the State Bank is managing the foreign exchange market effectively despite a negative trade balance. He anticipates that the central bank will increase foreign currency reserves in the near future.
The central exchange rate is currently 1.8% higher than it was at the beginning of the year. The SBV updates this rate daily, calculating it based on interbank market rates, a basket of currencies from major trading partners, macroeconomic balances, and policy objectives. It serves as a reference point for commercial banks to adjust their actual trading rates within a 5% fluctuation band. Under these regulations, banks are permitted to trade USD within the range of 24,281 to 26,839 VND today.
In the interbank market, banks have adjusted their trading rates in a direction contrary to the reference rate. Major banks such as Vietcombank, VietinBank, and BIDV raised their selling prices for the greenback by 20–30 VND, with trading taking place in the 26,270–26,300 VND range. The buying rate saw greater volatility, fluctuating by 20–190 VND and hovering around the 25,720–25,870 VND range.
In the unofficial market, many currency exchange dealers in downtown Ho Chi Minh City also raised their rates, trading at approximately 25,950–26,300 VND.
In a currency market report released earlier this week, MB Securities noted that pressure on the exchange rate persists, as the US dollar could strengthen during the final months of the year.
However, the stability of the Vietnamese dong could be supported by high interest rates and positive foreign investment inflows, alongside a narrowing trade deficit as raw materials imported earlier in the year are transformed into finished goods for export during the year-end peak season.
"By the end of the year, the exchange rate is expected to fluctuate between 26,800 and 27,000 VND, representing an increase of 2–2.8% compared to the beginning of the year," the MB Securities analyst team forecast.
Source: 24h.com.vn
Other Posts
- Why is the USD exchange rate plummeting? (21.08.2026)