Vietnam currency and money market update: 18 September 2025
Vietnam’s State Bank set the central exchange rate at VND 25,186 per US dollar on 18 September, down 12 dong from the previous day.
The Google Finance mid-market rate stood at VND 26,385, up 10 dong.
The black market rate was unchanged, with the buy price at VND 26,440 and the sell price at VND 26,540, leaving the mid-market spread with the official rate at 5.18 percent.
On open market operations, the State Bank shifted liquidity through repos.
Seven-day repos fell sharply to US$33.83 million from US$179.21 million, while 14-day repos rose to US$113.70 million from US$37.91 million.
Twenty-eight-day repos decreased to US$14.45 million, and 91-day repos climbed to US$3.54 million.
No T-bills were issued.
Interbank interest rates rose across the short-term curve. Overnight borrowing rose to 4.51 percent from 4.17 percent.
The one-week rate increased to 4.68 percent, and the two-week rate to 4.86 percent.
The one-month rate held steady at 5.10 percent. Longer terms saw minor gains, with three months at 5.45 percent and six months unchanged at 5.78 percent.
The data indicate continued upward pressure on interbank rates despite mixed liquidity injections, with the dong still trading at a persistent premium on the black market.
