Banks were selling US dollars for upwards of 25,000 Vietnamese dong a piece on Thursday, the most a single US dollar has been able to buy ever, according to VN Express. In response, the Deputy Governor of the State Bank of Vietnam (SBV), Dao Minh Tu, has said that the central bank will intervene if the dong continues to slide making specific mention of Vietnam’s foreign currency reserves he says are around US$100 billion.
Note that the SBV has issued just over US$6.9 billion in treasury bills to try to relieve some of the pressure on the local currency over the last few weeks, but that pressure has persisted. Said treasury bills will also start to mature next week with trillions of dong set to return to the market.