USD/VND exchange rate increased slightly
According to the SBV, during the week of February 24 to 28, 2025, the USD/VND exchange rate fluctuated in an upward direction. Specifically, on February 24, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) listed the USD/VND buying and selling exchange rate at 25,310/25,670 VND/USD, down 10 VND/USD compared to the previous weekend (December 21). By the end of February 28, the exchange rate increased to VND 25,370/25,730/USD, 60 VND/USD higher than the beginning of the week.
Interbank market: Transactions are bustling, interest rates fluctuate in different directions
A report from the SBV shows that total transaction sales in the VND interbank market last week reached about VND 2.79 million billion, an average of VND 558,850 billion/day, an increase of VND 76,193 billion/day compared to last week. USD trading turnover (exchanged to VND) reached about VND 518,652 billion, an average of VND 103,730 billion/day, an increase of VND 28,559 billion/day compared to the previous week.
Regarding terms, VND transactions mainly focus on overnight terms (accounting for 85% of total sales) and 1-week terms (10%). For USD, the two terms with the largest sales were overnight (81%) and 1 week (15%).
Average interest rates in the interbank market have different adjustments between VND and USD compared to last week.
Transactions in VND: The average interest rate for overnight, 1-week and 1-month terms increased by 0.06%/year, 0.04%/year and 0.01%/year, respectively, to 4.35%/year, 4.53%/year and 4.68%/year.
USD trading: Average overnight and 1-week terms increased by 0.01%/year, to 4.29%/year and 4.31%/year. Meanwhile, the average interest rate for a 1-month term decreased by 0.11%/year, down to 4.39%/year.
The average interbank interest rate table for key terms in the week from February 24 to 28, 2025:
In general, the foreign currency and interbank markets have had many fluctuations in the past week. The SBV continues to closely monitor developments to take appropriate management measures to ensure stable currency markets.
