The Vietnamese dong strengthened slightly on both official and unofficial markets on 29 October, narrowing the spread between the State Bank of Vietnam (SBV) rate and the black-market.
According to SBV data, the central exchange rate stood at VND 25,091 per US dollar, down VND 4 or 0.02 percent from the previous day.
The mid-market rate reported by Google Finance inched up to VND 26,338 per US dollar, a 0.04 percent rise.
In the informal market, both buy and sell rates slipped by VND 20 to VND 27,700 and VND 27,750 per US dollar respectively, bringing the mid-market level to VND 27,725 per US dollar, down 0.07 percent.
As a result, the gap between the official SBV rate and the black-market mid-market rate narrowed to VND 2,634, equivalent to a 10.50 percent premium.
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Vietnam exchange rates, 29 October 2025
| 29 Oct | 28 Oct | Change | % | |
| SBV: Central Exchange Rate | 25,091 | 25,095 | -4 | -0.02% |
| Google Finance: Mid Market Rate | 26,338 | 26,328 | 10 | 0.04% |
| Black Market: Buy | 27,700 | 27,720 | -20 | -0.07% |
| Black Market: Sell | 27,750 | 27,770 | -20 | -0.07% |
| Black Market: Mid-market | 27,725 | 27,745 | -20 | -0.07% |
| Spread: SBV / Black Market MM | 2,634 | 2,650 | -16 | -% |
| Spread: SBV / Black Market MM | 10.50% | 10.56% | – | – |
Open market operations
The State Bank of Vietnam (SBV) conducted limited open market operations on 29 October, focusing on longer maturities.
No repos were issued for 7-day or 14-day terms, while 28-day repos reached US$9.08 million and 91-day repos totalled US$7.37 million.
No short-term T-bills were transacted.
The shift toward longer-term liquidity injections suggests the SBV is maintaining a steady approach to bank funding while avoiding short-term volatility.
Vietnam open market operations, 29 October 2025
| 29 Oct | 28 Oct | |
| Repos – 7 Days US$ | $0 | $151,929,600 |
| Repos – 14 Days US$ | $0 | $341,841,600 |
| Repos – 28 Days US$ | $9,081,186 | $189,912,000 |
| Repos – 91 Days US$ | $7,368,070 | $151,929,600 |
| T-Bills – 7 Days US$ | 0 | 0 |
Interbank interest rates
Interbank interest rates remained unchanged on 29 October.
The overnight rate held at 5.87 percent, while the one-week and two-week tenors stayed at 5.99 percent and 6.04 percent respectively.
Rates for one-month and three-month maturities were steady at 5.84 percent and 5.95 percent, while the six-month tenor remained at 6.46 percent.
The nine-month rate was unchanged at 5.10 percent, reflecting a balanced interbank market with no immediate liquidity pressures.
Vietnam interbank interest rates, 29 October 2025
| 29 Oct | 28 Oct | |
| Overnight | 5.87 | 5.87 |
| 1 Week | 5.99 | 5.99 |
| 2 Weeks | 6.04 | 6.04 |
| 1 Month | 5.84 | 5.84 |
| 3 Months | 5.95 | 5.95 |
| 6 Months | 6.46 | 6.46 |
| 9 Months | 5.10 | 5.10 |
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