USD exchange rate drops the most in a month

At 7pm tonight, VietinBank listed the USD buying price at around 25,255 VND, down 80 VND compared to yesterday’s closing session and 190 VND lower than this morning. In the opposite direction, the selling price decreased by about 100 VND, to only 25,795 VND.

Vietcombank also continuously adjusted the exchange rate in the afternoon before finalizing the price at 25,390 – 25,800 VND, down 110 VND compared to yesterday. This is the sharpest drop since early October.

Today, many private banks made more than 20 price adjustments, especially Eximbank up to 42 times. Banks in this group are buying each USD for about 25,130-25,400 VND, 100 VND lower than yesterday. The selling price decreased similarly, down to around 25,800 VND.

Bank channel exchange rates are at a 21-month low. The last time banks traded below the 25,000 VND mark was in February 2025.

The adjustment was mainly affected by the USD Index, an index measuring the strength of the greenback compared to a basket of major currencies, on the decline. This index at one point dropped to close to 101.2 points, the lowest in about a month, after the Democratic Party won control of both houses of the US Congress in the midterm elections. Investors believe that this development may limit the ability to increase the budget deficit, thus reducing US government bond yields and pulling the greenback down.

Bank exchange rates have recently fluctuated much more strongly than the reference rate announced daily by the State Bank. Today, the operator listed the central exchange rate at 25,263 VND, down only 4 VND.

Although on a downward trend, the USD/VND exchange rate is still assessed by analysts to be stable in the short term. UOB Bank believes that the exchange rate in the last quarter of the year was at 26,300 VND, then increased to 26,600 and 26,800 in the first and second quarters of next year. The analysis team of MB Securities Company forecasts that the USD price at the end of this year will range from 26,800 to 27,000 VND.

On the free market, foreign currency exchange points buy and sell USD around 26,000 – 26,200 VND, about 400 VND higher than banks.