Business · Vietnam Bureau
Vietnam dong weakens as reference exchange rate climbs again
The State Bank of Vietnam's reference exchange rate rose on November 13, continuing an upward trend that has seen the dong weaken against the US dollar over recent trading sessions. Commercial banks followed suit with higher opening-hour rates.
LSN Vietnam ·
Vietnam's reference exchange rate extended its recent gains on November 13, adding to mounting pressure on the dong as it depreciated further against the US dollar. The movement reflects broader currency market dynamics affecting the Southeast Asian economy.
Major commercial banks in Hanoi and Ho Chi Minh City raised their opening-hour buying and selling rates compared to the previous day's close, signaling market-wide weakness in the domestic currency. The adjustment followed the State Bank's upward revision of the official reference rate.
The latest movement continues a pattern established over the previous week. After declining 10 Vietnamese dong on November 10, the reference rate rebounded on November 11 before posting further gains on November 12 and again on November 13.
The persistent depreciation reflects ongoing shifts in foreign exchange supply and demand in Vietnam's interbank market. Traders and investors closely monitor daily reference rate movements as they influence broader currency transactions and international settlement rates across the banking system.
Analysts expect the dong's trajectory will remain sensitive to regional economic conditions, capital flows, and the State Bank's policy decisions in the weeks ahead.