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Dollar edges higher against the dong

NEWS

October 29, 2026 at 10:14 UTC

2 min read
US dollar and Vietnamese dong notes on a desk beside a calculator as USD/VND and DXY react to the Fed decision

Key Points

  • 01SBV set the daily reference rate at 25,644 VND/USD on October 29
  • 02Trading band keeps the USD/VND ceiling at 26,926 and floor at 24,352
  • 03Vietcombank and BIDV raised their opening USD buying and selling rates
  • 04US Dollar Index (DXY) stood at 102.15 after Fed held rates at 3.75–4.00%

Reference rate lifted as dong softens

On October 29, 2026, the State Bank of Vietnam set the daily reference exchange rate at 25,644 VND per US dollar, up 13 VND from the previous session. With the current trading band of ±5%, this reference level established a ceiling rate of 26,926 VND/USD and a floor rate of 24,352 VND/USD for transactions at commercial banks. The move signalled a modest strengthening of the dollar against the dong at the start of the trading day.

Earlier in the week, the daily reference rate had been set at 25,633 VND/USD on October 27 and 25,631 VND/USD on October 28. The sequence of adjustments over these sessions shows a small net increase in the central rate by October 29. These changes have taken place within a stable trading band, with the ceiling and floor levels shifting in line with the reference rate.

Commercial bank quotes move higher

The adjustment in the reference rate was accompanied by higher quoted rates at major commercial banks in the opening hour on October 29. At 8:05 a.m., Vietcombank listed its buying rate at 25,660 VND/USD and its selling rate at 26,040 VND/USD. Both quotes were 20 VND higher than in the October 28 session, reflecting the upward move in the reference rate.

BIDV also raised its US dollar prices at the start of trading. The bank posted a buying rate of 25,650 VND/USD and a selling rate of 26,030 VND/USD, with both rates up 5 VND compared with the previous session. These increases placed commercial bank buying and selling levels slightly above the central reference rate but well within the allowed trading band.

Global dollar dynamics and Fed decision

The domestic exchange-rate adjustments occurred as the US dollar showed signs of softening in global markets. On October 28, the US Dollar Index (DXY), which tracks the dollar against a basket of six major currencies, stood at 102.15 points after declining 0.2%. The index had reached around 102.40 points on October 27, its highest level since October 14.

These moves followed the Federal Reserve’s decision to keep its benchmark interest rate unchanged at 3.75–4.00%. The central bank maintained a cautious stance on inflation, while volatility in the US Treasury market and expectations of a possible rate hike in December influenced currency trading. A drop in short-term US Treasury yields and a steeper yield curve were associated with the dollar giving back some of its earlier gains against major currencies.

Key Takeaways

  • 01Vietnam’s central reference rate increase to 25,644 VND/USD set the tone for a firmer dollar against the dong within the existing ±5% band.
  • 02Vietcombank and BIDV lifted their USD buying and selling quotes in line with the higher reference rate, staying well inside the official ceiling and floor.
  • 03Global factors, including an unchanged US policy rate and shifts in Treasury yields, coincided with a softer dollar index (DXY) even as the dollar strengthened against the dong.

References

  1. https://e.vnexpress.net/news/business/markets/dollar-strengthens-against-dong-5138288.html
  2. https://www.vietnam.vn/en/sang-29-10-nhnn-niem-yet-ty-gia-trung-tam-o-muc-25-644-dong
  3. https://en.vietnamplus.vn/reference-exchange-rate-goes-up-on-october-29-post354482.vnp
Dollar edges higher against the dong | Trading Dashboard