On October 22, the State Bank of Vietnam set the central exchange rate at 25,099 VND/USD, unchanged from the previous day. Commercial banks also maintained stable USD rates: Vietcombank bought at 26,153 VND and sold at 26,353 VND/USD; Eximbank quoted 26,160 – 26,353 VND; BIDV matched at 26,153 – 26,353 VND/USD.
However, an unexpected shift occurred in the informal market. By afternoon, several currency exchange points in Ho Chi Minh City quoted a buy rate of 27,146 VND/USD and a sell rate of 27,342 VND/USD, a 50 VND increase from the previous day.
This marks the highest USD rate in over a month, nearly 1,000 VND higher than bank rates. The last time the informal USD rate surpassed 27,000 VND was in early September.
Informal USD Rate Surges Above 27,200 VND
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Mr. Nguyen The Minh, Director of Individual Client Analysis at Yuanta Vietnam Securities, attributes the sharp rise in informal rates to increased USD demand toward year-end, coupled with limited cash supply. Additionally, the gap between informal and bank rates requires time to adjust, despite the State Bank’s recent sale of two USD forward contracts.
Forecasts suggest the USD/VND rate may stabilize or slightly increase this week due to rising foreign currency demand and the strengthening US Dollar Index (DXY), currently at 98.9 points—its highest since early August.
Recent Uptick in Informal USD Rates
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Thai Phuong
– 15:31 22/10/2025
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