Dollar prices hit new peak on Vietnam ‘black’ market
Prices of the U.S. dollar on the free market reached an all-time high on Tuesday as demand for forex remains high amid rising gold prices and the country's strong import recovery.
Gold shops in Vietnam quoted the greenback at VND25,540-25,670 a dollar for bids and asks, up respectively VND60-90 from Monday. USD prices on the free market jumped VND110-140 on Monday from last weekend.
Free-market USD prices reached a record high of VND25,500 in October 2022.

USD prices have been on the rise in Vietnam. Photo courtesy of Tien Phong (Pioneer) newspaper.
Commercial banks have also raised their USD prices. Vietcombank, the leading forex trader, is buying the dollar at VND24,480 and selling at VND24,850, up VND10 from late Monday. Similarly, Eximbank is offering the dollar at VND24,460-24,830.
BIDV, another “Big 4” bank, quoted the USD at VND24,530-24,840, up VND15-25 from Monday.
As such, free-market prices are VND820-1,000 higher than those offered by banks, nearly twice the gap seen in late 2023.
The State Bank of Vietnam raised its mid-point rate by VND8 on Tuesday morning to VND24,012 a dollar.
Meanwhile, the U.S. Dollar Index (DXY) is trading at 103.87, up just 0.04%. Traders are waiting for U.S. news that may impact the markets this week. Fed chair Jerome Powell will testify before key House and Senate committees this week. U.S. payroll data is due Friday.
In addition, traders are purchasing forex on the unofficial market to import gold illegally to satisfy gold demand as prices of the precious metal have hit new records, according to analysts. Prices of SJC-branded gold eased to VND78.5-80.52 million ($3,178-3,260) a tael after rising VND500,000 a tael to VND78.9-80.92 million a tael at the Tuesday open.
KB Securities (Vietnam) analysts attribute higher USD prices to the large gap between USD- and VND-denominated interest rates, which has prompted carry trade.
Another cause is an 18% year-on-year increase in goods imports in the first two months of this year, triggering demand for forex to cover bills.
Finance expert Nguyen Tri Hieu did not rule out hoarding as another cause as traders anticipate a continued upward trend of the greenback.
- Read More
Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex
A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.
Industries - Tue, September 16, 2025 | 2:44 pm GMT+7
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
- Consulting
-
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
-
The ASEAN trade puzzle: Smart moves in a shifting landscape
-
Vietnam’s breakthrough opportunity against world-wide US tariff wave
-
Trump trade mayhem to steepen yield curve and weaken US dollar
-
Navigating tariff shocks: Vietnam’s path forward through diversification
-
Southeast Asia IPO performance in Jan-June