Last week, the central exchange rate increased by 37 dong.

Statistics from the past week (April 7-11) show that the central exchange rate announced by the State Bank of Vietnam fell sharply at the end of the week after a prolonged period of increase. The DXY index (measuring the value of the USD against other foreign currencies in the international currency basket) unexpectedly plummeted.

Hà Nội Mới•12/04/2025

Specifically, the central exchange rate was sharply adjusted upwards by a total of 78 dong in three sessions mid-week, peaking at 24,964 VND/USD on April 10th. However, by the end of the week, the central exchange rate had sharply decreased by 41 dong. This was also the sharpest decline after a series of six consecutive sessions of increases. Overall, the central exchange rate increased by 37 dong over the past week.

The exchange rate fell sharply on the 10th and 11th. — The central exchange rate fell sharply in the final trading session of the week after six consecutive days of increases. Photo: ST

At commercial banks, the USD/VND exchange rate fell by about 40 dong on the selling side, easing tensions, in contrast to the shocking increase of 200 dong after the United States announced retaliatory tariffs on imported goods.

The exchange rate on the free market fluctuated more sharply last week compared to commercial banks, with the selling rate still increasing by 84 dong, higher than the increase of the previous week (76 dong), commonly trading at 26,020 VND/USD (buying) - 26,120 VND/USD (selling).

On the international market, the DXY index at one point fell sharply, dropping below 100 points to 99.19 points. According to calculations by international organizations, the US dollar has depreciated by 4.8% over the past week.

Experts believe that although the exchange rate has cooled down, it remains at a high level, reflecting pressure from international markets and domestic concerns. This is because, with high reciprocal tariffs, Vietnamese businesses face the risk of declining export orders. American consumers are reacting to rising prices by canceling or delaying orders, or even switching to domestic products when the price difference narrows.

From a regulatory perspective, the State Bank of Vietnam continues to boost liquidity supply to the market through the open market operations (OMO) channel. Accordingly, in the collateralized lending channel, on April 11th, 18,939.2 billion VND was successfully auctioned, including 8,323.29 billion VND at 7-day maturity; 9,586.64 billion VND at 14-day maturity; and 1,029.27 billion VND at 35-day maturity, all at an interest rate of 4%; while 9,041.47 billion VND matured. The State Bank of Vietnam did not offer State Bank bills for auction.

Overall last week, in the collateralized lending channel, 74,054.02 billion VND was successfully bid for, including 2,481.4 billion VND for 91-day maturities. The volume of collateralized loans maturing was 50,133.77 billion VND. The amount of money injected into the system was 23,920.25 billion VND, higher than the net injection of the previous week (14,237.55 billion VND).