As of the December 12th session, the USD Index (DXY) closed at 98.42 points, marking a 0.55-point decline from the previous week and its third consecutive week of losses.
On December 10th, the U.S. Federal Reserve (Fed) implemented its third consecutive 25-basis-point interest rate cut, lowering the federal funds rate to a range of 3.5% – 3.75%.
According to the Federal Open Market Committee (FOMC), the Fed’s policy-setting body, recent data indicates moderate economic expansion, slowing job growth throughout the year, and a slight uptick in unemployment as of September. To support its objectives, the Fed decided to lower the overnight lending rate by an additional 0.25 percentage points, reaching its lowest level in over three years.
This extended cycle of rate cuts has diminished the appeal of the U.S. dollar.
Source: SBV
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Domestically, the USD/VND exchange rate also experienced a slight decrease. The State Bank of Vietnam set the central reference rate on December 12th at 25,148 VND per USD, a 3-dong drop compared to the previous week. With a ±5% band, commercial banks are permitted to trade within the range of 23,891 – 26,405 VND per USD.
At the Foreign Exchange Management Department, the reference exchange rate was set at 23,941 – 26,355 VND per USD (buying – selling), reflecting a 3-dong decrease from the prior week.
Source: VCB
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Within the banking system, Vietcombank quoted the USD at 26,095 – 26,405 VND per USD (buying – selling) at week’s end, representing a 43-dong decrease in the buying rate and a 3-dong decrease in the selling rate.
Source: VietstockFinance
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In the free market, the USD/VND exchange rate continued its downward trend, reaching 27,120 – 27,180 VND per USD (buying – selling), an 80-dong decline over the week.
– 16:28 14/12/2025
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