Business · Vietnam Bureau
Vietnam's dong weakens further as central bank lowers reference rate
The State Bank of Vietnam set the daily reference exchange rate at 25,624 VND/USD on October 1, marking the third consecutive day of depreciation for the dong against the U.S. currency.
LSN Vietnam ·
The State Bank of Vietnam established the reference exchange rate at 25,624 VND/USD on October 1, down 3 VND from the previous trading day. The latest adjustment continues a downward trend that has persisted throughout the final week of September.
The depreciation reflects broader movements in Vietnam's currency markets. The dong has lost ground steadily over recent sessions, with the reference rate declining 9 VND at the beginning of the week before edging down a further 2 VND on September 29 and 3 VND on September 30.
The reference exchange rate established daily by the State Bank serves as a benchmark for commercial banks conducting foreign exchange transactions and influences broader currency market dynamics across Vietnam's financial system.