USD exchange rate fluctuations month

In August, the USD exchange rate fluctuated strongly, increasing continuously for many sessions, approaching the threshold of 25,300 VND/USD, then "cooling down". The central exchange rate at the closing session of August remained at 25,240 VND as at the end of July.

On the last trading day of August, the central exchange rate was adjusted down by 28 VND to 25,240 VND/USD by the State Bank. Thus, the exchange rate decreased by 58 VND compared to the previously established "peak".

With a 5% band, the USD exchange rate at commercial banks is allowed to trade in the range of 23,978 - 26,502 VND/USD. The reference exchange rate at the Foreign Exchange Management Department is 24,028 VND/USD (buy) - 26,452 VND/USD (sell). In the free market, the USD exchange rate at the end of August was 26,650 VND/USD (buy) - 26,720 VND/USD (sell).

In the last week of August (from August 25 to 29), the USD exchange rate decreased in the official channel but increased sharply in the free market. At the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), the USD exchange rate was listed at 26,132 VND/USD (buy) - 26,502 VND/USD (sell), a slight increase of 2 VND in the buying direction but a decrease of 18 VND in the selling direction compared to the end of the previous week. At the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ), the listed USD exchange rate was 26,183 VND/USD (buy) - 26,502 VND/USD (sell), a sharp decrease of 37 VND in the buying direction and 60 VND in the selling direction.

Fluctuations in exchange rates of major currencies.

In August 2025, the USD exchange rate listed at Vietcombank increased by 142 VND (buying) and 122 VND (selling) compared to the end of July (25,990 VND/USD - 26,380 VND/USD). Meanwhile, at BIDV, the USD exchange rate increased by 176 VND for buying and 135 VND for selling.

The exchange rate on the free market increased more sharply, by about 140 VND/USD, closing the week at 26,650 VND/USD (buy) - 26,720 VND/USD (sell). The strong increase in the free exchange rate while the official channel is stable shows that the demand for foreign currency is increasing.

In the world market, the USD Index (DXY), which measures the strength of the USD compared to other major currencies in the world currency basket, was at 98 points, when there was information that the US Federal Reserve (FED) cut interest rates in September. For the whole month of August, the DXY index decreased by 2%.

Meanwhile, the EUR and the British Pound (GBP) increased quite strongly in the past month, while the JPY remained almost unchanged. Specifically, the EUR exchange rate increased by 732 - 770 VND, to 29,945 - 31,524 VND/EUR; the GBP exchange rate increased by 801 - 835 VND, ending the month at 34,640 - 36,111 VND/GBP. The breakthrough of the two European currencies reflects expectations of economic growth in the region exceeding expectations, while being affected by the weakening USD.

Experts predict that the exchange rate pressure will gradually decrease as the DXY continues its downward trend, in the context of the market expecting the FED to cut interest rates in September. In addition, recent progress in completing a bilateral trade agreement between the US and Vietnam may also be a factor limiting the exchange rate's increase. However, it is still necessary to monitor the USD's developments.

In fact, to prevent the sharp increase in the exchange rate, on August 25 and 26, the State Bank intervened to sell foreign currency with a term, with a cancellation within 180 days, at a selling price of 26,550 VND/USD to banks with negative foreign currency status. This move by the State Bank contributed to stopping the increase in the price of the USD.

For the open market, last week alone (from August 25 to 29), in the mortgage channel, there were 41,552.01 billion VND in winning bids for terms: 7 days, 14 days, 28 days, with an interest rate of 4%/year; there were 58,822.36 billion VND maturing on the mortgage channel.

The State Bank has continued to stop offering treasury bills since the end of July. In total, the State Bank has withdrawn a net VND17,270.35 billion last week through the open market channel, with 4/5 consecutive net withdrawal sessions; with VND181,663.71 billion still circulating on the mortgage channel, there are no more State Bank treasury bills circulating on the market.

Thus, in August, the State Bank withdrew a net VND 25,211.28 billion through the open market channel.

In the last week of August, interbank interest rates recorded a sharp downward trend in most terms, showing that system liquidity has improved. Overnight interest rates decreased from 4.76% on August 22 to 2.03% on August 29, short terms also decreased sharply, such as 1-week term decreased from 4.94% to 3.97%; 2-week from 5.63% to 4.75%; 1-month almost flat around 4.95%. In particular, 3-month term remained the highest level, but also decreased slightly from 5.66% to 5.53%.

Source: https://hanoimoi.vn/thang-bien-dong-cua-ty-gia-usd-714620.html