As of the session close on September 26, the USD Index (DXY), which gauges the greenback’s strength against a basket of six major currencies, reached 98.18 points. This marks a 0.53-point increase from the previous week and represents the highest level since early September.
The Federal Reserve’s decision to cut interest rates on September 17, bringing the benchmark rate to the 4% – 4.25% range, was expected to diminish the USD‘s appeal. However, the currency’s trajectory defied expectations, bolstered by a series of positive U.S. economic indicators.
Notably, new jobless claims declined last week, while second-quarter GDP was revised upward, indicating a stronger growth rate than initially estimated. This optimistic data, coupled with cautious statements from Fed officials, has fueled speculation that the central bank may pause further rate cuts.
Source: SBV
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Domestically, the State Bank of Vietnam set the central reference rate at 25,191 VND/USD on September 26, a slight 5-dong increase from the previous week. With a ±5% band, commercial banks are permitted to trade the currency within the 23,931 – 26,451 VND/USD range.
The reference exchange rate at the Foreign Exchange Reserve Management Department stood at 23,985 – 26,403 VND/USD (buy – sell), an 8-dong increase from the previous week.
Source: VCB
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At Vietcombank, the USD closed the week at 26,183 – 26,453 VND/USD (buy – sell), a modest 8-dong increase in both directions compared to the previous week.
 Source: VietstockFinance
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In the free market, the USD traded around 26,490 – 26,590 VND/USD, a 50-dong increase in both directions from the previous week.
– 18:11 28/09/2025
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