Business · Vietnam Bureau
Vietnam's reference exchange rate extends decline for third consecutive day
The Vietnamese dong continued its downward trajectory against the US dollar on November 6, with the reference rate falling to an 18-month low at commercial banks. The permitted trading band of ±5% set ceiling and floor rates at 26,986 VND/USD and 24,334 VND/USD respectively.
LSN Vietnam ·
Vietnam's reference exchange rate extended its losing streak for a third consecutive trading session on November 6, maintaining downward pressure on the local currency. The decline reflects broader regional currency movements and shifts in market sentiment toward the US dollar.
Under the State Bank of Vietnam's established trading corridor, commercial banks operated within a ±5% band around the official reference rate. The ceiling rate stood at 26,986 VND/USD while the floor was pegged at 24,334 VND/USD for the day's transactions.
The consecutive daily declines have pushed the dollar to its highest levels in 18 months against the Vietnamese dong, signaling sustained weakness in the local currency. The extended downtrend reflects both external pressures from global monetary conditions and domestic economic factors affecting currency valuations.
Market observers note that the ongoing depreciation of the dong follows a pattern of regional currency volatility as investors reassess risk positions in emerging Asian markets. The State Bank continues to monitor exchange rate movements while maintaining its managed float framework to support economic stability.