USD/VND exchange rate cools down sharply

Although the State Bank injected a net VND11,000 billion through treasury bill bidding on the open market, the exchange rate still fell sharply today and is no longer "anchored" at the ceiling.

On June 26, the central exchange rate continued to be adjusted down by the State Bank of Vietnam (SBV) for the second consecutive session, although the decrease was small, only a total decrease of 5 VND/USD over the past two days, down to 25,053 VND/USD.

However, notable developments were recorded at commercial banks. Vietcombank sharply reduced the USD/VND exchange rate, especially in the buying direction. The USD/VND exchange rate at Vietcombank dropped to 25,930 VND/USD (buying) and 26,290 VND/USD (selling) - down 17 VND compared to the end of yesterday. The buying rate at the beginning of the week reached 26,000 VND/USD at times, now it has decreased by 70 VND/USD.

One of the reasons for the cooling of the exchange rate is the continued weakening of the greenback. The DXY index continued to fall deeply to 97 points when expectations of a rate cut from the US Federal Reserve (Fed) increased . This is also the lowest level since February 2022.

The latest developments in US politics also have a major impact on investors' expectations as US President Donald Trump is said to be considering announcing Chairman Jerome Powell's successor earlier than expected, creating an impact before Mr. Powell's term ends.

Meanwhile, the ceasefire between Iran and Israel and a positive fiscal outlook from Europe helped stabilize investor sentiment, causing the USD to continue to depreciate against the euro. The EUR/USD exchange rate has surpassed the $1.17 mark, approaching a new record high since 2021.

DXY index falls to lowest level since February 2022.

Overall, since the beginning of the year, the USD/VND exchange rate at banks has increased by 2.89%. The domestic exchange rate has turned to decrease despite the SBV injecting a net VND11,000 billion through treasury bill bidding on the open market.

Previously, on June 24 and 25, the open market auction resumed . The State Bank of Vietnam sold valuable papers to credit institutions with a large purchase value. However, on June 26, in the open market, the State Bank of Vietnam conducted an auction to buy VND20,442 billion of 7-day treasury bills with an interest rate of 4%/year, distributed to 11 credit institutions. Along with the sale of 7-day treasury bills, the State Bank of Vietnam net injected more than VND11,000 billion into the banking system.

Key exchange rate pairs at Vietcombank at the end of June 26.

The low USD not only contributed to restraining the increase in exchange rates but also slightly increased the world gold price. In the international market, the spot gold price remained high at around 3,340 USD/ounce, due to expectations of loose monetary policy and the impact of a weak USD. The August 2025 gold futures price also increased to 3,352 USD/ounce.

Domestically, the price of SJC gold bars on June 26 increased twice in a day. At Saigon Jewelry Company (SJC), the listed price of gold bars was VND118 million/tael (buy) and VND120 million/tael (sell), an increase of VND500,000/tael compared to yesterday.

Meanwhile, the price of gold rings at many businesses, including Bao Tin Minh Chau, remained unchanged, at 115 million VND/tael for buying and 118 million VND/tael for selling.

Source: https://baodautu.vn/ty-gia-usdvnd-ha-nhiet-sau-d314796.html