Business · Vietnam Bureau
Vietnam dong weakens further as central bank adjusts daily reference rate
The State Bank of Vietnam set the daily reference exchange rate at 25,627 VND/USD on November 4, marking a third consecutive session of depreciation. The rate declined 3 VND from the previous trading day.
LSN Vietnam ·
Vietnam's currency continued its downward trend on November 4 as the State Bank of Vietnam (SBV) adjusted its daily reference exchange rate to 25,627 VND/USD, reflecting ongoing weakness in the dong against the US dollar.
The rate movement represents the latest in a series of depreciations affecting Vietnam's official benchmark. The dong has shed gains consistently over recent trading sessions, with the reference rate declining 3 VND on November 4 alone, following a 6 VND drop at the beginning of the previous week and a 7 VND decline on October 30.
The sustained weakening of the reference rate signals persistent pressure on the Vietnamese currency in the foreign exchange market. The SBV uses the daily reference rate to guide commercial banking operations and set limits for dong trading bands against the US dollar.
Currency movements in Vietnam reflect broader regional and global economic dynamics affecting emerging market currencies. The dong's depreciation comes amid fluctuations in international commodity prices and shifts in capital flows across Asia-Pacific markets.