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OMO Net Pumping Developments (09-16/06/2025). Unit: VND billion
Source: VietstockFinance
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Specifically, new issuances in the term purchase channel were limited to VND 10,206 billion out of a total of VND 10,521 billion maturing, resulting in a net withdrawal of VND 315 billion by the SBV. The outstanding amount in the term purchase channel stood at VND 48,960 billion.
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Developments in the overnight interbank interest rate since the beginning of 2025. Unit: %/year
Source: VietstockFinance
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In the interbank market, the overnight interest rate slightly increased to 3.72%/year on 13/06, up 90 basis points from the previous week. Meanwhile, the average trading volume slightly decreased by 4% to nearly VND 437 thousand billion.
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DXY Developments in the Last 3 Years
Source: marketwatch
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In the international market, the USD Index (DXY) dropped sharply by 1.06 points to 98.14 – the lowest level in several weeks – after the US released inflation data for May, which showed a slower increase compared to April. This development raised expectations that the Federal Reserve (Fed) may soon initiate an interest rate cut cycle, putting downward pressure on the USD.
In the domestic market, Vietcombank’s exchange rate on 13/06 was listed at 25,833-26,223 VND/USD (buying – selling), a slight increase of 3 VND in both directions compared to the previous week.
– 13:48 17/06/2025
“Dollar Dominance: Commercial Banks Witness Synchronized USD Surge on June 16th”
The central exchange rate set by the State Bank of Vietnam has seen an increase of 18 VND, reaching 24,993 VND per USD. With a permitted trading range of ±5%, the ceiling and floor rates for June 16th stand at 26,242 VND and 23,743 VND per USD, respectively.
The Greenback’s Slippery Slope
The U.S. dollar remained on a downward trajectory in the week of June 9–13, 2025, despite a brief recovery following Israel’s strike on Iran.
“Global Currencies: A Slight Surge for the US Dollar and Yuan”
Vietcombank has listed the USD exchange rate at 25,863-26,223 VND/USD (buying-selling), an increase of 13 VND from yesterday’s morning session; meanwhile, BIDV has also raised their rates by 10 VND, now offering 25,855-26,215 VND/USD.
“Trade War Truce: Markets Await Outcome of Crucial Tariff Talks”
The Vietnamese Dong has demonstrated a remarkable resilience over the past month, bucking the trend of depreciation seen among many Asian currencies. Contrary to the performance of its regional peers, the Vietnamese currency maintained its stability. Should the ongoing trade, geopolitical, and monetary negotiations yield positive results, the pressure on exchange rates will ease, providing the State Bank of Vietnam with the necessary flexibility to sustain this stability in the long term.
