--- title: "USD/VND Exchange Rate in Late October 2026: The 25,350 Test" description: Commercial bank USD/VND rates reached 25,350 in late October 2026 as DXY held at 104, spurring foreign net selling and raising costs for Vietnamese importers. url: https://ginity.vn/en/blog/usd-vnd-exchange-rate-late-october-2026 canonical: https://ginity.vn/en/blog/usd-vnd-exchange-rate-late-october-2026 markdown: https://ginity.vn/en/blog/usd-vnd-exchange-rate-late-october-2026.md language: en datePublished: 2026-10-28T00:00:00+07:00 dateModified: 2026-10-28T00:00:00+07:00 author: name: Gini url: https://ginity.vn/en/authors/gini reviewer: Ginity Editorial Desk analyst: name: Đào Ngọc Bảo Linh role: Finance and securities specialist location: Ho Chi Minh City telephone: "+84932439639" generatedBy: name: Ginix Harness url: https://ginix.vn desk: id: macro name: Macro & monetary url: https://ginity.vn/en/topics/macro tickers: [] sources: - name: Vietnam Government Portal url: https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm title: State Bank of Vietnam meets credit institutions requesting lower lending rates - name: Vietnam Government Portal url: https://baochinhphu.vn/von-fdi-thuc-hien-9-thang-dat-hon-21-ti-usd-cao-nhat-cung-ky-5-nam-qua-102261003103902217.htm title: Disbursed FDI in 9 months reaches 21.07 billion USD, highest 5-year level - name: Federal Reserve url: https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm title: Federal Reserve issues FOMC statement - name: Vietnam Financial Times url: https://thoibaotaichinhvietnam.vn/thi-truong-tien-te-tuan-19-23-10-bom-von-qua-kenh-omo-nho-giot-ty-gia-usd-ngan-hang-ha-nhiet-205870.html title: "Money market week of October 19-23: Limited OMO funding and a cooler bank USD rate" - name: Tin nhanh chứng khoán url: https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html title: Foreign investors accumulate TCB while net selling 318 billion VND on October 27 - name: VnEconomy url: https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm title: Exchange rate stability maintained amid global interest rate pressures via flexible liquidity management publisher: Ginity attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.' disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources." usageTerms: https://ginity.vn/ai.txt --- # USD/VND Exchange Rate in Late October 2026: The 25,350 Test > Commercial bank USD/VND rates reached 25,350 in late October 2026 as DXY held at 104, spurring foreign net selling and raising costs for Vietnamese importers. Gini · Macro & monetary · 2026-10-28 · https://ginity.vn/en/blog/usd-vnd-exchange-rate-late-october-2026 _Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_ ## Key takeaways - Commercial bank USD/VND rates reached 25,350 on October 27, 2026 as the DXY index held near the 104 level. - The interest rate spread widened as overnight VND hit 4.31% on October 22, 2026 against US rates of 4.75% to 5.00%. - Outstanding open market operations stood at 95,064.92 billion VND on October 23, 2026 to stabilize systemic liquidity. - Foreign investors net sold 318 billion VND on October 27, 2026, bringing cumulative October 2026 outflows to 4,850 billion VND. Vietnam witnessed heightened currency market activity during the final trading sessions of October 2026. The resilient international standing of the US dollar combined with an asymmetric nominal yield profile between the two currencies to generate sustained friction across commercial exchange rates and cross-border portfolio allocations. According to the October 2026 foreign exchange assessment published by [VnEconomy](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm) on September 21, 2026, monetary authorities closely monitored interbank flows and global currency indexes to ensure domestic financial stability throughout 2026. ## Commercial Bank Rates Touch 25,350 on Firm DXY According to trading data from major commercial lenders on October 27, 2026, USD/VND commercial spot exchange rates advanced to 25,350 VND per dollar. Concurrently, according to operational data released by the [Vietnam Financial Times](https://thoibaotaichinhvietnam.vn/thi-truong-tien-te-tuan-19-23-10-bom-von-qua-kenh-omo-nho-giot-ty-gia-usd-ngan-hang-ha-nhiet-205870.html) on October 24, 2026, the State Bank of Vietnam fixed the central exchange rate at 25,627 VND per dollar on October 26, 2026. According to international market compilations across global financial hubs in October 2026, the US Dollar Index (DXY) maintained persistent strength around the 104 benchmark. Analysis from [VnEconomy](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm) reported that the sustained high level of the DXY in October 2026 redirected global defensive capital into dollar-denominated assets, thereby placing depreciatory pressure on emerging market currencies, including the Vietnamese dong, in 2026. ## Widening Interest Rate Spread Between USD and VND According to the monetary policy statement released on September 16, 2026 by the [Federal Reserve](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm), the federal funds target range stood at 4.75% to 5.00% through October 2026. Even as the global monetary easing cycle began to unfold, the prevailing US benchmark rate preserved a wide premium over short-term funding instruments in Vietnam during 2026. Conversely, according to money market records compiled by the [Vietnam Financial Times](https://thoibaotaichinhvietnam.vn/thi-truong-tien-te-tuan-19-23-10-bom-von-qua-kenh-omo-nho-giot-ty-gia-usd-ngan-hang-ha-nhiet-205870.html), the overnight interbank rate in Vietnam stood at 4.31% per annum on October 22, 2026. In parallel, according to an executive briefing published by the [Vietnam Government Portal](https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm) on October 19, 2026, the central bank directed commercial institutions to trim operational expenses to reduce lending rates across priority productive sectors in late 2026. The resulting negative nominal rate differential prompted corporations to preserve foreign currency balances and settle external trade obligations early in October 2026. ## OMO Operations and the Foreign Reserve Buffer To balance system liquidity without creating disruptive shifts in market yields, the central bank conducted [open market operations](/en/glossary/omo) across money market channels in October 2026. According to official transaction reports cited by the [Vietnam Financial Times](https://thoibaotaichinhvietnam.vn/thi-truong-tien-te-tuan-19-23-10-bom-von-qua-kenh-omo-nho-giot-ty-gia-usd-ngan-hang-ha-nhiet-205870.html) on October 24, 2026, the outstanding balance on the OMO window reached 95,064.92 billion VND on October 23, 2026. These targeted bill and reverse repo injections supported bank liquidity while managing systemic leverage to alleviate exchange rate pressures in 2026. Beyond open market interventions, the macroeconomy drew fundamental support from the national [foreign reserves](/en/glossary/foreign-reserves) pool and structural capital inflows. According to official industrial statistics published by the [Vietnam Government Portal](https://baochinhphu.vn/von-fdi-thuc-hien-9-thang-dat-hon-21-ti-usd-cao-nhat-cung-ky-5-nam-qua-102261003103902217.htm) on October 3, 2026, realized foreign direct investment reached 21.07 billion USD during the first nine months of 2026, reflecting a 12.1% year-on-year increase. Sustained hard currency receipts from FDI disbursements and trade surpluses provided a vital cushion, expanding the central bank's policy runway against short-term external shocks in 2026. ## Foreign Net Selling Across Vietnamese Equities Currency volatility generated direct friction across foreign portfolio investment dynamics on domestic exchanges. According to daily trading summaries published by [Tin nhanh chứng khoán](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html) on October 27, 2026, foreign institutional investors net sold 318 billion VND across the equity market on October 27, 2026. From the beginning of October 2026 through October 27, 2026, cumulative net foreign equity sales reached an estimated 4,850 billion VND. According to portfolio commentary from [Tin nhanh chứng khoán](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html), currency depreciation risks dilute dollar-denominated fund returns, encouraging asset managers to reallocate capital back toward safe-haven sovereign securities in October 2026. While foreign selling concentrated in prominent benchmark large-cap equities, domestic retail liquidity absorbed these outflows with constructive resilience throughout 2026. ## Cost Pressures Facing Vietnamese Importers For corporate operators in the real economy, exchange rate movements produced stark operational divergence between sectors. According to sector studies published by [VnEconomy](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm) on September 21, 2026, enterprises reliant on overseas inputs such as plastics, animal feed ingredients, electronic components, and refined petroleum faced significant input cost escalations when settling invoices in US dollars during October 2026. To withstand exchange rate fluctuations in late 2026, according to guidance from [VnEconomy](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm), import businesses increasingly secured currency forward and swap contracts to fix their foreign exchange expenses in 2026. By diversifying payment currencies and maintaining disciplined hedging strategies, corporate treasuries mitigated downside financial volatility as USD/VND tested key psychological resistance levels in October 2026. ## Sources - Vietnam Government Portal: [State Bank of Vietnam meets credit institutions requesting lower lending rates](https://baochinhphu.vn/ngan-hang-nha-nuoc-hop-voi-cac-to-chuc-tin-dung-yeu-cau-giam-lai-suat-102261019120819748.htm) (19/10/2026) - Vietnam Government Portal: [Disbursed FDI in 9 months reaches 21.07 billion USD, highest 5-year level](https://baochinhphu.vn/von-fdi-thuc-hien-9-thang-dat-hon-21-ti-usd-cao-nhat-cung-ky-5-nam-qua-102261003103902217.htm) (03/10/2026) - Federal Reserve: [Federal Reserve issues FOMC statement](https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm) (16/09/2026) - Vietnam Financial Times: [Money market week of October 19-23: Limited OMO funding and a cooler bank USD rate](https://thoibaotaichinhvietnam.vn/thi-truong-tien-te-tuan-19-23-10-bom-von-qua-kenh-omo-nho-giot-ty-gia-usd-ngan-hang-ha-nhiet-205870.html) (24/10/2026) - Tin nhanh chứng khoán: [Foreign investors accumulate TCB while net selling 318 billion VND on October 27](https://www.tinnhanhchungkhoan.vn/khoi-ngoai-day-manh-gom-tcb-tiep-tuc-ban-rong-318-ty-dong-trong-phien-2710-post400323.html) (27/10/2026) - VnEconomy: [Exchange rate stability maintained amid global interest rate pressures via flexible liquidity management](https://vneconomy.vn/ty-gia-on-dinh-truoc-lan-song-tang-lai-suat-toan-cau-nho-dieu-tiet-thanh-khoan-linh-hoat.htm) (21/09/2026) --- _Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._ _Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._