Dong strengthens as dollar reaches lowest level since April 2025
Vietcombank lowered its dollar rate to ₫25,990, while the black-market rate declined to ₫25,780.
The US dollar weakened against Vietnam’s dong to a level last seen in April 2025, with Vietcombank reducing its rate by 1% to ₫25,990. A 1.64% decline brought the black-market rate to ₫25,780.
Compared with the beginning of the year, bank exchange rates are about 1.5% lower, reflecting the dong’s gains across 10 months. Buying foreign currency now costs less for people travelling, studying overseas or making payments on dollar-denominated debt. Foreign-currency holders and remittance recipients may, however, lose out when exchanging dollars for dong.
Internationally, the dollar index held steady at 101.88. The measure, which compares the dollar with six other currencies, was heading towards a second consecutive monthly increase, Reuters reported.
MB Securities analysts expect continued exchange-rate pressure and a stronger dollar towards year-end. High oil prices are increasing inflationary pressure and supporting expectations of elevated US Federal Reserve interest rates.
UOB analysts expressed a similar outlook. They said the Fed’s September rate increase, alongside the possibility of two more increases before the first quarter of 2027, would progressively reduce the Vietnam-US interest-rate gap. That would leave the exchange rate more exposed to foreign portfolio investment flows, they said.
