The State Bank of Vietnam’s central exchange rate was stable at VND 25,099 on both 22 and 21 October, showing no change, while Google Finance’s mid-market rate slipped slightly from VND 26,342 to VND 26,335, a decline of 7 dong or 0.03 percent.
Similarly, the black-market buy rate held at VND 27,300 while the sell rate stayed at VND 27,380, leaving the black-market mid-market rate unchanged at VND 27,340.
The spread between the SBV rate and the black-market mid-market rate remained at VND 2,241 or 8.93 percent.
See also: Right Now, a Weak Dong Could be Good for Vietnam. Here’s Why.
Vietnam exchange rates, 22 October 2025
| 22 Oct | 21 Oct | Change | % | |
| SBV: Central Exchange Rate | 25,099 | 25,099 | 0 | 0.00% |
| Google Finance: Mid Market Rate | 26,335 | 26,342 | -7 | -0.03% |
| Black Market: Buy | 27,300 | 27,300 | 0 | 0.00% |
| Black Market: Sell | 27,380 | 27,380 | 0 | 0.00% |
| Black Market: Mid-market | 27,340 | 27,340 | 0 | 0.00% |
| Spread: SBV / Black Market MM | 2,241 | 2,241 | 0 | 0.00% |
| Spread: SBV / Black Market MM | 8.93% | 8.93% | – | – |
Liquidity operations
Seven-day repo issuances were worth about US$113.92 million.
Fourteen-day repos rose sharply from US$265.81 million to US$835.39 million.
Twenty-eight-day repos also increased from US$265.81 million to US$569.58 million, while ninety-one-day repos rose from US$113.92 million to US$569.58 million.
Altogether, VND 55,000 in repos were issued with about US$2.09 billion.
There were no outstanding seven-day T-bills.
Vietnam open market operations, 22 October 2025
| 22 Oct | 21 Oct | |
| Repos – 7 Days US$ | $113,916,900 | $113,916,900 |
| Repos – 14 Days US$ | $835,390,600 | $265,806,100 |
| Repos – 28 Days US$ | $569,584,500 | $265,806,100 |
| Repos – 91 Days US$ | $569,584,500 | $113,916,900 |
| T-Bills – 7 Days US$ | 0 | 0 |
Interbank interest rates
Overnight, one-week, two-week, one-month, three-month, six-month, and nine-month interbank rates were steady at 4.97, 5.19, 5.24, 5.48, 5.68, 6.00, and 6.00 percent respectively.
Vietnam interbank interest rates, 22 October 2025
| 22 Oct | 21 Oct | |
| Overnight | 4.97 | 4.97 |
| 1 Week | 5.19 | 5.19 |
| 2 Weeks | 5.24 | 5.24 |
| 1 Month | 5.48 | 5.48 |
| 3 Months | 5.68 | 5.68 |
| 6 Months | 6.00 | 6.00 |
| 9 Months | 6.00 | 6.00 |
See also: How Low Can the Vietnamese Dong Go? Why It’s Sliding & What Might Happen Next