The black market US dollar price in Vietnam rose sharply against the dong Wednesday, with the mid-market climbing from VND 26,685 on 29 August to VND 26,825 on 3 September, widening the gap with Google’s mid-market rate to 1.67 percent.
This speaks to ongoing challenges for Vietnam’s central bank in keeping the exchange rate stable.
Key details:
- SBV central rate: Set at VND 25,246, up 6 from 29 August.
- Google mid-market: US$ traded at VND 26,385, up 40 over the period.
- Black market: Buy at VND 26,780 and sell at VND 26,870, both higher than 29 August levels.
- Spread vs official: Black market premium expanded from 340 to 440 dong over Google’s rate.
- Repos: Activity shrank, with 7-day repos at US$20.9 million, 14-day repos dropping from US$10.3 million to US$5,000, and 28-day repos falling to US$2.4 million.
- T-bills: No issuance recorded.
- Interbank rates: Overnight held at 2.03 percent; 1-week at 3.84 percent, slightly lower. Longer tenors rose marginally, with 3-month at 5.58 percent.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next