On November 19, in Vietnam, the black market US dollar buy rate was VND 27,740 and the sell rate was VND 27,820, a change of 30 and 50 respectively, for a mid-market rate of VND 27,780 (up 0.14 percent), according to Ty Gia USD.
Meanwhile the State Bank of Vietnam’s central exchange rate was set at VND 25,132, the same as yesterday, while the Google Finance mid-market rate stood at VND 26,376.
The spread between the SBV’s central exchange rate and black-market mid-market rates was VND 2,648 or 10.54 percent.
How Low Can the Vietnamese Dong Go? Why It’s Sliding & What Might Happen Next
Vietnam exchange rates, 19 November 2025
| 19 Nov | 18 Nov | Change | % | |
| Black Market: Mid-market | 27,780 | 27,740 | 40 | 0.14% |
| SBV: Central Exchange Rate | 25,132 | 25,132 | 0 | 0.00% |
| Google Finance: Mid Market Rate | 26,376 | 26,373 | 3 | 0.01% |
| Black Market: Buy | 27,740 | 27,710 | 30 | 0.11% |
| Black Market: Sell | 27,820 | 27,770 | 50 | 0.18% |
| Spread: SBV / Black Market MM | 2,648 | 2,608 | 40 | 1.53% |
| Spread: SBV / Black Market MM | 10.54% | 10.38% | – | – |
Open market operations
The State Bank of Vietnam conducted repo operations worth US$37.91 million for 7 days, US$37.91 million for 14 days, US$37.91 million for 28 days, US$37.91 million for 91 days, with no 7-day T-bills issued.
Vietnam open market operations, 19 November 2025
| 19 Nov | 18 Nov | |
| Repos – 7 Days US$ | $37,913,900 | $37,854,557 |
| Repos – 14 Days US$ | $37,913,900 | $18,758,166 |
| Repos – 28 Days US$ | $37,913,900 | $37,917,500 |
| Repos – 91 Days US$ | $37,913,900 | $113,752,500 |
| T-Bills – 7 Days US$ | 0 | 0 |
Vietnam’s Black Market Dong Dilemma: Unpacked
Interbank interest rates
Vietnam’s interbank interest rates fell across most tenors.
The overnight rate increased to 4.58 percent (up 0.07 points).
The 1-week rate rose to 4.71 percent, and the 2-week rate fell to 4.77 percent.
The 1-month rate increased to 5.34 percent, while the 3-month and 6-month rates fell to 5.98 and rose to 7.25 percent respectively.
The 9-month tenor was unchanged at 6.26 percent.
Vietnam interbank interest rates, 19 November 2025
| 19 Nov | 18 Nov | Change | |
| Overnight | 4.58 | 4.51 | 0.07 |
| 1 Week | 4.71 | 4.67 | 0.04 |
| 2 Weeks | 4.77 | 5.77 | -1.00 |
| 1 Month | 5.34 | 5.27 | 0.07 |
| 3 Months | 5.98 | 6.40 | -0.42 |
| 6 Months | 7.25 | 7.18 | 0.07 |
| 9 Months | 6.26 | 6.26 | 0.00 |
Right Now, a Weak Dong Could be Good for Vietnam. Here’s Why.