Vietnam C.bank strengthens central exchange rate, black market dong unchanged, Monday

On February 2, in Vietnam, the black market US dollar buy rate was VND 26,450, and the sell rate was VND 26,500, a change of 0 and 0, respectively, for a mid-market rate of VND 26,475, according to prices quoted by Ty Gia USD.

Meanwhile, the State Bank of Vietnam’s central exchange rate was set at VND 25,064, while the Google Finance mid-market rate stood at VND 26,031.

Bar chart change in Vietnam dong, 2 February 2026

The spread between the SBV’s central exchange rate and black-market mid-market rates was VND 1,411 or 5.63 percent.

Vietnam exchange rates, 2 February 2026

2 Feb30 JanChange%
Black Market: Mid-market26,47526,47500.00%
SBV: Central Exchange Rate25,06425,074-10-0.04%
Google Finance: Mid Market Rate26,03125,9161140.44%
Black Market: Buy26,45026,45000.00%
Black Market: Sell26,50026,50000.00%
Spread: SBV / Black Market MM1,4111,401100.71%
Spread: SBV / Black Market MM5.63%5.59%

Open market operations

The State Bank of Vietnam conducted repo operations worth US$384.20 million for 7 days, US$0.00 million for 14 days, US$1166.56 million for 28 days, US$1536.80 million for 56 days, US$0.00 million for 91 days, with no 7-day T-bills issued.

Vietnam open market operations, 2 February 2026

2 Feb30 Jan
Repos – 7 Days US$$384,201,000$192,931,000
Repos – 14 Days US$$0$0
Repos – 28 Days US$$1,166,555,259$0
Repos – 56 Days US$$1,536,804,000$424,448,200
Repos – 91 Days US$$0$0
Total$3,087,560,259$617,379,200

Vietnam’s Black Market Dong Dilemma: Unpacked

Interbank interest rates

Vietnam’s interbank interest rates fell across most tenors.

The overnight rate decreased to 4.10 percent (down 1.96 points).

The 1-week rate fell to 5.35 percent, and the 2-week rate fell to 6.30 percent.

The 1-month rate decreased to 7.29 percent, while the 3-month and 6-month rates fell to 6.92 and rose to 7.53 percent respectively.

The 9-month tenor was unchanged at 8.10 percent.

Vietnam interbank interest rates, 2 February 2026

2 Feb30 JanChange
Overnight4.106.06-1.96
1 Week5.356.48-1.13
2 Weeks6.306.55-0.25
1 Month7.297.34-0.05
3 Months6.927.41-0.49
6 Months7.536.760.77
9 Months8.108.100.00

See Friday’s exchange rate activity→

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