Vietnam's central exchange rate has achieved a new record, with the USD in the free market dropping below 26,000 VND. This significant shift was announced by the State Bank of Vietnam on August 11, where the central rate was set at 25,516 VND/USD, marking a 25 VND increase from the previous day and establishing a historical high for the rate.

The State Bank allows banks to trade USD within a 5% margin, with the ceiling rate set at 26,792 VND/USD and the floor rate at 24,240 VND/USD. The central exchange rate serves as a reference point for commercial banks to determine their buying and selling rates for USD within the allowed range. This rate is managed flexibly to reflect the supply and demand for foreign currency and aims to stabilize the foreign exchange market.

In the domestic market, the price of the USD at commercial banks was adjusted, fluctuating between 25,800 and 26,000 VND/USD for buying, and around 26,300 to 26,350 VND/USD for selling. Some banks increased their buying price by nearly 100 VND, while the selling price saw a smaller increase of about 4 to 20 VND. Conversely, a few banks reduced their rates by 30 to 50 VND in both buying and selling.

Compared to the peak rates of 26,500 to 26,530 VND/USD recorded at the end of July, the current USD price at commercial banks has decreased by nearly 200 VND, which is approximately 0.8%.

In the free market, the USD has been continuously adjusted downwards, with selling prices around 25,710 VND/USD and buying prices at about 25,680 VND/USD. Both buying and selling prices have decreased by 120 VND compared to the previous day. Consequently, the selling price of the USD in the free market is currently lower than that of banks by about 590 to 640 VND/USD.

ACBS Research notes that the exchange rate trend is more favorable than expected. By mid-July, the Vietnamese Dong had only depreciated about 0.4% against the USD since the beginning of the year. Based on this, the organization forecasts an annual depreciation of the VND of around 3% and suggests that the State Bank still has room to use various tools to manage liquidity in VND without placing excessive pressure on the exchange rate.

According to a report from MBS Securities, the USD/VND exchange rate is expected to fluctuate between 26,800 and 27,000 VND/USD by the end of 2026, indicating an increase of 2% to 2.8% from the beginning of the year.