Vietnamese Dong Firms Against US Dollar Amid Central Bank Rate Cut
Vietcombank sold the greenback at VND26,020, following a 0.02% reduction in the State Bank of Vietnam's reference rate to VND25,629.
Dong Gains on Friday
The US dollar depreciated against the Vietnamese dong on Friday, 9 October 2026, reflecting a broader weakening trend for the greenback against several key currencies. State-owned Vietcombank, a major commercial bank, quoted the dollar at VND26,020 for sales, which marked a 0.3% decrease from its Thursday closing price.
On the unofficial market, the dong also showed strength, trading at approximately VND26,180 per dollar, a rise of 0.15% for the Vietnamese currency.
State Bank Adjusts Reference Rate
Adding to the currency's movement, the State Bank of Vietnam (SBV) adjusted its reference exchange rate. The central bank lowered this benchmark rate by 0.02%, setting it at VND25,629 per US dollar. This move provides a guiding rate for commercial banks operating within the country, influencing their daily trading bands and overall currency stability.
Global Dollar Weakness
Globally, the US dollar experienced a slight dip during Friday's Asia trading session, pausing recent gains. This occurred as US Treasury yields headed towards their most significant weekly decline in about three months. Other currencies saw varied movements: the Australian dollar appreciated by 0.2% to $0.6975, while sterling rose 0.1% to $1.3243.
The New Zealand dollar also gained approximately 0.2% to reach $0.5614, maintaining a stable position for the week. In contrast, the Japanese yen was on track for its fourth consecutive weekly depreciation, stabilising around 158 yen to the dollar, while the euro faced its fifth straight weekly loss, trading at $1.122 due to ongoing concerns about French government debt.
A stronger dong, alongside the State Bank's reference rate adjustment, offers varied implications for businesses operating in Vietnam. Exporters may find their goods less competitive in international markets as their dollar-denominated prices effectively rise. Conversely, importers could see reduced costs for raw materials and finished products purchased with US dollars.
This currency dynamic influences pricing strategies for both domestic and international trade, and investors will observe how these shifts affect corporate earnings and capital flows in the coming quarter.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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