The State Bank of Vietnam held the dong’s central exchange rate steady at VND 25,114 per US dollar on 15 October, while Google Finance’s mid-market rate eased slightly to VND 26,343, down 0.05 percent from the previous day.
Black-market rates, however, rose sharply, with the mid-market level reaching VND 27,050, up 170 dong or 0.63 percent.
The gap between the SBV and black-market mid-market rates widened to VND 1,936, equivalent to 7.71 percent, up from 7.03 percent a day earlier.
The widening spread suggests continued foreign-exchange pressure as demand for U.S. dollars remains high despite the SBV’s stable official fixing.
Vietnam exchange rates, 15 October 2025
| 15 Oct | 14 Oct | Change | % | |
| SBV: Central Exchange Rate | 25,114 | 25,114 | 0 | 0.00% |
| Google Finance: Mid Market Rate | 26,343 | 26,357 | -14 | -0.05% |
| Black Market: Buy | 27,000 | 26,830 | 170 | 0.63% |
| Black Market: Sell | 27,100 | 26,930 | 170 | 0.63% |
| Black Market: Mid-market | 27,050 | 26,880 | 170 | 0.63% |
| Spread: SBV / Black Market MM | 1,936 | 1,766 | 170 | 9.63% |
| Spread: SBV / Black Market MM | 7.71% | 7.03% | – | – |
The SBV expanded its short-term liquidity support through open market operations on 15 October.
Total 7-day reverse repos rose sharply to US$151.85 million from US$37.94 million a day earlier.
The 14-day facility remained stable at US$113.89 million, while the 28-day tenor doubled to US$151.85 million.
The 91-day repos also increased significantly to US$75.93 million, indicating stronger liquidity injection across maturities.
No new short-term Treasury bills were issued.
Vietnam open market operations, 15 October 2025
| 15 Oct | 14 Oct | |
| Repos – 7 Days US$ | $151,851,600 | $37,941,300 |
| Repos – 14 Days US$ | $113,888,700 | $113,823,900 |
| Repos – 28 Days US$ | $151,851,600 | $75,882,600 |
| Repos – 91 Days US$ | $75,925,800 | $37,941,300 |
| T-Bills – 7 Days US$ | 0 | 0 |
Interbank interest rates eased slightly on 15 October, reflecting improved liquidity conditions in the banking system.
The overnight rate fell to 4.73 percent from 4.79 percent the previous day.
The two-week and one-month tenors declined to 4.93 percent and 5.26 percent, respectively, while the three-month rate dropped more sharply to 5.24 percent from 5.60 percent.
Rates for one-week, six-month, and nine-month maturities remained unchanged.
Vietnam interbank interest rates, 15 October 2025
| 15 Oct | 14 Oct | Change | |
| Overnight | 4.73 | 4.79 | -0.06 |
| 1 Week | 4.91 | 4.91 | 0.00 |
| 2 Weeks | 4.93 | 5.09 | -0.16 |
| 1 Month | 5.26 | 5.40 | -0.14 |
| 3 Months | 5.24 | 5.60 | -0.36 |
| 6 Months | 6.04 | 6.04 | 0.00 |
| 9 Months | 5.02 | 5.02 | 0.00 |