Vietnam’s financial markets on 10 July 2025 showed signs of tightening liquidity and ongoing dollar demand pressure, reflected in movements across repo operations, exchange rates, and interbank interest rates.
Key details include:
Exchange rate pressures persist
The SBV’s central exchange rate was adjusted upwards by 12 dong to VND 25,131 per US$, signalling controlled depreciation pressures.
On the informal market, the black market buy rate held steady at VND 26,400, while the sell rate inched up to VND 26,490. The resulting mid-market rate was VND 26,445.
The gap between the black market mid-rate and Google Finance’s mid-market rate widened slightly to 331 VND, representing a 1.27 percent premium, compared to 1.19 percent the previous day.
Liquidity operations narrow
The State Bank of Vietnam (SBV) reduced its 7-day repo volume to US$552.5 million, down from US$688.6 million on 9 July.
New 91-day repos also fell to US$29.9 million, compared to US$35.7 million previously.
Meanwhile, the volume of 7-day US$ Treasury bills remained unchanged at US$191.5 million.
Interbank rates rise across most tenors
Interbank interest rates rose across nearly all maturities. The overnight rate increased to 4.65 percent from 4.48 percent.
Rates for 1 week and 1 month climbed slightly to 4.58 percent and 4.29 percent respectively. The 6-month tenor saw the sharpest change, rising to 5.25 percent from 4.75 percent.
See also: How Low Can the Vietnamese Dong Go? Why it’s Sliding & What Might Happen Next