USD prices fall to five-month low as central bank turns to net VND injection
USD prices in Vietnam have been on the fall to around VND25,000 a dollar, the lowest since late March as the U.S. Federal Reserve (Fed) has hinted at cutting rates for the first time in years.
The State Bank of Vietnam (SBV) lowered its central reference USD/VND rate by VND12 to VND24,212 a dollar on Wednesday.
With a trading band of ± 5%, commercial banks can set their quotes at VND23,001-25,422 a dollar.

A bank clerk at a Vietcombank branch. Photo courtesy of Thanh Nien (Young People) newspaper.
State-run Vietcombank, the largest forex trader in the country, offered the dollar at VND24,630-25,000 for buy and sell, respectively, unchanged from Tuesday. The USD has lost 1.9% against the Vietnamese dong since its peak late in June.
Private banks Techcombank and Eximbank quoted the greenback at VND24,648-25,039 and VND24,640-25,070, up VND10-15 from Tuesday.
On the free market, the dollar was offered at VND25,110-25,200 for bids and asks, down VND90-100 from Tuesday, respectively. The greenback has lost 3.2% in value on this channel from its peak this year.
Analysts attribute the greenback’s weakening to the Fed’s likely rate cut next month.
Fed chair Jerome Powell last Friday stated: “The time has come for policy to adjust,” in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming.
Fixed income markets expect the Fed’s policymakers to cut interest rates at its next meeting on September 18, by 25 basis points.
The U.S. Dollar Index (DXY), which measures the dollar’s strength against a basket of currencies, was trading at 100,72 at the time of writing, the lowest since December 27, 2023, according to MarketWatch.
At home, Vietnam posted a trade surplus of $933 million in the first fortnight of August, resulting in a surplus of $15.49 billion in the year to August 15, according to the latest data of the General Department of Vietnam Customs.
Amid a stronger dong, the SBV on Monday (August 26) ceased issuing Treasury bills, marking the first time in months.
On August 5, the Vietnamese central bank reduced the T-bill rate by 25 basis points to 4.25% per annum, and then to 4.2% on August 20, and 4.15% on August 23.
Meanwhile, the banking regulator continues to support system liquidity by injecting via open market operations. It net pumped VND9.1 trillion ($365.9 million) on Monday.
- Read More
Trump Organization eyes golf course, hotel projects in Vietnam
A consortium between the Trump Organization and its partner in Vietnam plans multiple investments worth billions of dollars in golf courses, hotels and real estate projects Vietnam, Reuters quoted the consortium’s spokesman as saying.
Real Estate - Sat, March 29, 2025 | 11:06 am GMT+7
Livestock major Dabaco invests in 8.2-hectare dry port in northern Vietnam
Vietnam’s leading livestock firm Dabaco has invested in an 8.2-hectare inland container depot (ICD) in Bac Ninh province, an emerging manufacturing hub in northern Vietnam and home to a Samsung Electronics plant.
Infrastructure - Sat, March 29, 2025 | 10:51 am GMT+7
Phuong Tien Minh appointed CEO of life insurer FWD Vietnam
Hong Kong-headquartered FWD Group Holdings Limited has appointed Phuong Tien Minh as CEO of life insurer FWD Vietnam, effective Thursday, March 27.
Finance - Sat, March 29, 2025 | 10:40 am GMT+7
Vietnam's Deputy PM backs formation of free trade zone in Binh Dinh province
Vietnam’s Deputy Prime Minister Nguyen Chi Dung on Friday expressed his support for an early study of a free trade zone in Phu My Port area, the south-central province of Binh Dinh.
Economy - Sat, March 29, 2025 | 8:25 am GMT+7
Vietnam offers numerous advantages for Skoda Auto's investment: executive
Vietnam offers a range of advantages for investment by Czech automaker Skoda Auto, including its seaport system, logistics infrastructure, and skilled labor, the company’s chairman and CEO Klaus Zellmer said on Thursday.
Industries - Fri, March 28, 2025 | 7:33 pm GMT+7
Vietnam plans to cut import tax for LNG to 2%
Vietnam’s Ministry of Finance is drafting a decree on preferential import tax for some products, including a proposal of 2% tax rate for LNG.
Energy - Fri, March 28, 2025 | 4:31 pm GMT+7
AES’s $2.1 bln LNG power project needs solutions to meet deadline: Vietnam authorities
The 2,250-MW Son My 2 LNG-fired power project, invested by the U.S.'s AES and state-run Petrovietnam subsidiary PV Gas, “needs solutions” to meet its deadline.
Energy - Fri, March 28, 2025 | 4:06 pm GMT+7
Over $9 bln pledged for investment projects in central Vietnam province Binh Dinh
Binh Dinh province on Friday handed over MoUs on investment cooperation, in-principle approvals and investment registration certificates to 62 projects worth over VND231 trillion ($9.03 billion).
Industries - Fri, March 28, 2025 | 4:05 pm GMT+7
Vietnam's giant Vingroup eyes mullti-billion-dollar renewable, LNG power projects
Vietnam's leading private conglomerate Vingroup is seeking the government's permission to develop seven renewable energy projects worth $20-25 billion and a $5.5 billion LNG-fired power project from 2025-2030.
Energy - Fri, March 28, 2025 | 1:09 pm GMT+7
While the buzz around a market upgrade is back, who is this milestone for?
A key issue for the Vietnamese stock market is the underdevelopment of the institutional investor base. The dominance of retail investors can create heightened volatility, which, in turn, reduces the incentive for high-quality companies to list on the stock exchange, writes Gary Harron, head of securities services at HSBC Vietnam.
Consulting - Fri, March 28, 2025 | 10:31 am GMT+7
Vietnam's private lender VIB seeks strategic shareholders: chairman
Vietnam International Bank's (VIB) board of directors is now in discussions with banks and investment funds to find suitable partners for the lender, ensuring a mutually beneficial partnership that goes beyond finance.
Banking - Fri, March 28, 2025 | 8:31 am GMT+7
Vietnam tech giant FPT opens semiconductor R&D center in central Vietnam
Vietnam’s leading tech group FPT on Thursday inaugurated its high-tech and semiconductor R&D center at the Danang Software Park No. 2 in the central city of Danang.
Industries - Fri, March 28, 2025 | 8:00 am GMT+7
HCMC's international financial center development to be phased out: city leader
Ho Chi Minh City aims to become an international financial center, with related development plan divided into three phases, said Vo Van Hoan, its Vice Chairman.
Economy - Thu, March 27, 2025 | 11:11 pm GMT+7
Car producers in Thailand postpone export models
Car manufacturers in Thailand have decided to delay making some models for export due to U.S. President Donald Trump's new tariff policy.
Southeast Asia - Thu, March 27, 2025 | 10:17 pm GMT+7
Indonesia approves $7 bln budget for food security in 2025
Indonesia’s Ministry of Finance on Wednesday announced that the government has approved a budget of IRD118 trillion ($7.1 billion) for food security programs in 2025.
Southeast Asia - Thu, March 27, 2025 | 10:14 pm GMT+7
Honda Vietnam rolls out first domestically produced electric scooter
Honda Vietnam has officially launched its first domestically produced electric scooter, the ICON e:, marking a significant step in the company’s electrification and sustainable mobility strategy in Vietnam.
Southeast Asia - Thu, March 27, 2025 | 10:09 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?