Counting US Dollars. (Photo: VNA)
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On August 12, 2025, the exchange rate of the Vietnamese Dong (VND) against the US Dollar (USD) continued its upward trend at commercial banks, while the Chinese Yuan (CNY) rate witnessed a slight decline.
Specifically, the State Bank of Vietnam set the daily reference exchange rate at 25,243 VND per USD on August 12, up 12 VND from the previous day.
With a permitted variation of +/- 5%, the ceiling and floor rates applicable to commercial banks during the day are 26,505 VND/USD and 23,980 VND/USD, respectively.
At the State Bank of Vietnam-listed exchange rates, the buying and selling rates were listed at 24,031 VND/USD and 26,455 VND/USD, respectively.
As of 9 am on August 12, Vietcombank and BIDV listed the USD exchange rates at 26,050 VND/USD (buying) and 26,410 VND/USD (selling), marking a rise of 10 VND in both buying and selling rates compared to the previous day.
In the case of the Chinese Yuan, Vietcombank’s rates were listed at 3,592-3,707 VND/CNY (buying-selling), a decrease of 1 VND in both rates compared to August 11.
At BIDV, the Chinese Yuan rates witnessed a slight decline of 1 VND in both buying and selling rates, remaining at 3,600-3,698 VND/CNY (buying-selling).
– 09:36 12/08/2025
The Central Bank Pumps Over 11 Trillion VND into the Open Market
Between August 4 and August 11, the State Bank of Vietnam (SBV) continued its four-week streak of net injections into the open market, primarily through new issuances in the form of term deposit offerings.
A Strong Currency Doesn’t Mean a Weak Economy
“At first glance, the exchange rate of over 25,000 VND to 1 USD might lead some to conclude that the Vietnamese dong is significantly weaker than the US dollar. However, a single exchange rate at a frozen moment in time reveals nothing about the inherent strength or weakness of a currency.”
US Dollar Makes a Modest Gain at Commercial Banks on August 11
As of 9 a.m. on August 11th, Vietcombank and BIDV listed their USD exchange rates at 23,485-23,560 VND/USD (buy-sell), a 10-dong increase from the buying and selling rates listed on August 8th.
The Greenback Retreats
“The US dollar weakened in the week of August 4–8, 2025, as markets reacted to President Donald Trump’s new tariff policies and disappointing jobs data that fueled expectations for an interest rate cut. “
The Vietnamese Dong’s Future: Navigating the Volatile USD Waters
The USD is showing signs of weakening but remains stubbornly above the 26,000 VND mark. However, experts suggest that the pressure on Vietnam’s exchange rate is easing, with predictions of a modest 3-4% depreciation for the Vietnamese Dong this year.
