USD rate passes VND25,000 milestone at top Vietnam lender Vietcombank
Vietcombank, the largest Vietnamese lender by market capitalization and foreign exchange transactions, increased its USD buying and selling rates to VND24,790 and VND25,130 Wednesday afternoon.
The move followed the State Bank of Vietnam (SBV), the country’s central bank, increasing the central exchange rate to VND24,020 the same day, up VND15 from a day ago.
Per the SBV's trading band of +-5%, commercial banks can set their exchange rates between VND22,819 and VND25,221. Wednesday’s exchange rate was close to the peak of VND24,107 reached on October 27, 2023.
Vietcombank headquarters in Hanoi, northern Vietnam. Photo by The Investor/Trong Hieu
At BIDV, another one of Vietnam’s “Big 4” banks, the buying and selling rates were VND24,815 and VND25,125 Wednesday afternoon, respectively, up from VND24,755 and VND25,065 the previous day.
At yet another “Big 4” member, VietinBank, the buying rate went up to VND24,835 Wednesday from Tuesday’s VND24,725; while the selling rate rose to VND25,175 from VND25,145.
Corresponding figures at Techcombank, a leading private lender, were VND24,815 and VND25,125 on Wednesday afternoon, compared to VND24,755 and VND25,065 a day earlier.
SSI Research, the research body of major securities broker SSI, attributed the greenback’s upward trend to the pressure of the international market outweighing good domestic performance indicators including high trade surplus and foreign direct investment (FDI) disbursement.
- Related News
- Read More
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
Vietnam's leading construction contractor Hoa Binh targets US market amid low domestic profit
Hoa Binh Construction Group, one of Vietnam's top contractors, is negotiating a joint venture agreement with American partners to pave the way for implementing major projects in the U.S.
Companies - Fri, May 2, 2025 | 2:04 pm GMT+7
Northern Vietnam province Hai Duong to have first urban area-golf course complex
Hai Duong province's authorities have granted in-principle approval for the Lien Hong New Urban Area and Golf Course project, with a total investment of VND11 trillion ($423 million).
Real Estate - Fri, May 2, 2025 | 9:59 am GMT+7
Central Vietnam 'awakened' by major resort projects
From once-abandoned coastal lands to emerging resort-urban areas, central Vietnam is witnessing a strong resurgence of investment.
Real Estate - Fri, May 2, 2025 | 9:22 am GMT+7
Vietnam Airlines posts strong profit on international passenger surge, fuel price decline
National flag carrier Vietnam Airlines (HVN) said on Wednesday that it recorded consolidated pre-tax profit of around VND3.6 trillion ($138 million) on consolidated revenue of approximately VND31.1 trillion ($1.2 billion) in Q1/2025.
Companies - Fri, May 2, 2025 | 8:17 am GMT+7
S Korean firms pledge nearly $2 bln in new investments in Indonesia
South Korea's companies will increase their investment in Indonesia by $1.7 billion, Indonesian Economic Minister Airlangga Hartarto said on Monday after attending a meeting between a Korean business association and President Prabowo Subianto.
Southeast Asia - Thu, May 1, 2025 | 10:01 pm GMT+7
Malaysia develops sustainable semiconductor ecosystem
The Malaysian Investment Development Authority (MIDA), the Federation of Malaysian Manufacturing (FMM), and Bintang Capital Partners (Bintang Capital) on Monday announced a landmark MoU signed recently regarding the establishment of Bintang Semiconductor Impact Fund I (BSIF I).
Southeast Asia - Thu, May 1, 2025 | 9:59 pm GMT+7
Vietnam to become second-largest economy in Southeast Asia by 2036: CEBR
The Centre for Economic and Business Research (CEBR), in its report World Economic League Table 2022, forecasts that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.
Southeast Asia - Thu, May 1, 2025 | 9:42 pm GMT+7
Vietnam conglomerate Vingroup's Q1 revenue surpasses $3 bln for first time
Vingroup, Vietnam's leading private conglomerate, recorded revenue of VND84.05 trillion ($3.3 billion) in the first quarter of 2025, its record high.
Companies - Thu, May 1, 2025 | 3:44 pm GMT+7
Work starts on expressway connecting Vietnam's Central Highlands with southeastern region
Construction on Tuesday began on the first component of Gia Nghia town (the Central Highlands province of Dak Nong)-Chon Thanh town (the southeastern province of Binh Phuoc) section of the North-South Expressway.
Infrastructure - Thu, May 1, 2025 | 2:46 pm GMT+7
Final sections of central Vietnam’s longest sea-crossing bridge joined
Authorities of Hue city in central Vietnam on Wednesday held a ceremony to celebrate the joining of the final sections of Thuan An sea-crossing bridge, a landmark infrastructure project with significant implications for local development and tourism.
Infrastructure - Thu, May 1, 2025 | 2:35 pm GMT+7
Lach Huyen port will achieve 70% of year's target in worst-case scenario: exec
Lach Huyen deep-water port, the largest of its kind in northern Vietnam, would see its cargo volume decline by 30-50% if the U.S. maintains its 46% reciprocal tariff on Vietnam and the U.S.-China trade tensions escalate, said CEO of Port of Hai Phong JSC (Hai Phong Port) Nguyen Tuong Anh.
Companies - Thu, May 1, 2025 | 12:24 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?
