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At around 9:10 a.m. on November 12, surveyed Vietnamese banks generally lowered their euro buying and selling rates against the dong. At some banks, rates fell by more than VND 150 in both directions. Euro rates also declined in the unofficial market.
The dollar strengthened against several major currencies on November 11, lifting the Dollar Index to its highest level since April 2025. Higher-than-expected US inflation in October and recent comments from Federal Reserve officials raised expectations of a December rate hike.
The State Bank of Vietnam plans to begin buying spot US dollars on November 11, 2026, at VND 25,500 per dollar. It previously conducted a 182-day USD/VND swap operation capped at USD 2 billion to manage banking system liquidity and foreign exchange supply and demand.
