Business · Vietnam Bureau
Vietnam's reference exchange rate weakens further against US dollar
The State Bank of Vietnam set the daily reference exchange rate at 25,634 VND/USD on October 8, marking a fourth consecutive decline in the unit's value against the greenback.
LSN Vietnam ·
The Vietnamese dong weakened by 4 VND against the US dollar on October 8, according to the State Bank's daily fixing. The reference rate stood at 25,634 VND/USD, extending a downward trend that has gathered pace over the past several trading sessions.
The currency has faced persistent depreciation pressure in recent days. The dong slipped 7 VND on October 7 before a minor correction of 2 VND on October 6. Earlier in the week, the currency had strengthened by 7 VND at the beginning of the period, but momentum has since reversed sharply.
The steady weakening reflects broader regional currency dynamics and capital flow pressures affecting Southeast Asian economies. The State Bank's daily reference rate serves as the official midpoint for the VND/USD exchange rate, guiding commercial bank transactions in the foreign exchange market.
The recent depreciation comes amid volatility in regional financial markets and shifting investor sentiment toward emerging market assets. Market participants are closely monitoring the central bank's policy responses and any official intervention measures to support the currency.