The State Bank of Vietnam set the central exchange rate at VND 25,291 per US$1 on August 25, down 7 dong from August 22.
The dong held stable in unofficial markets, with the black-market mid-rate unchanged at VND 26,545 per US$1, widening the gap with Google Finance’s mid-market rate to 0.91 percent.
Key details:
- Central rate: VND 25,291 per US$, down 7 dong over three sessions
- Google Finance mid-rate: VND 26,305 per US$, down 60
- Black-market mid-rate: VND 26,545 per US$, unchanged
- Spread: 240 dong, or 0.91 percent, above Google Finance mid-rate
- Repos outstanding: Down sharply to US$40.98 million (7-day), US$954.16 million (14-day), US$244.75 million (28-day), with 91-day repos dropping to zero
- T-bills: No issuance
- Interbank rates: Overnight rose to 4.76 percent, 1-week to 4.94 percent, 2-weeks to 5.63 percent, 3-months to 5.66 percent
Of note, it was reported that the State Bank would take to selling US dollars on forward contracts to try and arrest the dong’s decline.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next