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Why Bank Dollar Rates Fell to an 18-Month Low Against Vietnam’s Dong
On October 31, 2026, Vietcombank sold dollars for 25,990 dong, its lowest rate in about 18 months, while the dollar index was near 101.83. The central reference rate and bank customer quotes are different measures; a change in one does not require an identical move in the other.
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Key takeaways
- On October 31, 2026, Vietcombank sold dollars for 25,990 dong, its lowest rate in about 18 months, while the dollar index was near 101.83.
- The central reference rate and bank customer quotes are different measures; a change in one does not require an identical move in the other.
- A lower USD/VND rate can reduce the dong cost of dollar expenses but also means dollar remittances convert into fewer dong.
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Vietcombank’s dollar selling rate was 25,990 dong on October 31, 2026, a level reports described as the lowest in about 18 months. That happened alongside a State Bank of Vietnam reference rate of 25,637 dong per dollar and a dollar index reading near 101.83. These figures are not directly interchangeable: one is a bank’s customer quote, one is a central reference rate, and one tracks the dollar more broadly. The reporting documents the divergence, but does not establish a definitive reason for it. 5
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What the October 31 rates show
Vietcombank quoted about 25,610 dong to buy a dollar and 25,990 dong to sell one. Its selling rate was down 30 dong from the start of the day. Other state-owned banks’ reported rates ranged from 25,440 to 25,980 dong, though that range should not be read as selling prices alone: the figures include different bank quotes and buying and selling rates. 1
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The year-to-date comparison also varies by report. One account described bank dollar rates as about 1.5% lower than at the beginning of the year; another reported a 1.35% decline. The precise figure depends on the rates and comparison points used. 1
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Why the bank quote, reference rate and dollar index can diverge
The State Bank’s central rate is a reference measure, while commercial banks publish their own buying and selling quotes. On October 31, the central rate was reported at 25,637 dong per dollar, and the dollar index at 101.83. 6 VnExpress reported that the central rate had risen by about 10 dong from the previous weekend, even as commercial-bank quotes moved lower.
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Those movements can coexist because they describe different parts of the market. The dollar index is not a quote for buying dollars at a Vietnamese bank, and the central reference rate is not the same as a bank’s retail selling rate. The available reports show that the measures moved differently; they do not provide enough evidence to attribute the bank-rate decline to a particular flow or event.
What a lower dollar rate means for households
When the dollar costs fewer dong, people paying dollar-denominated travel, tuition or debt expenses may need fewer dong for the same dollar amount. The effect on expenses in other currencies depends on the dong’s exchange rate against those currencies. A person receiving a fixed amount in dollars, by contrast, gets fewer dong when converting it at a lower USD/VND rate.
These are exchange-rate effects, not a guarantee of a household’s total savings: fees, bank spreads and, for some loans, interest-rate changes can also affect the final cost.
What the reports say about the outlook
The reported low does not by itself establish that the dong will keep strengthening. A report published October 31 said economist Dao Le Trang Anh expected Vietnam’s exchange rate to remain relatively stable through the end of the year and into early 2027, while allowing for short-term fluctuations amid uncertainty in international markets. It also noted that near-term pressure could depend on U.S. Federal Reserve policy and dollar strength. These are reported expectations, not confirmed outcomes. 33
The sources available here do not substantiate the specific trade-surplus and foreign-investment figures, or all the named forecasts and rate-hike expectations raised in the question. Those claims should not be treated as established explanations for the October 31 bank quotes.
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What is the short answer to "Why Bank Dollar Rates Fell to an 18-Month Low Against Vietnam’s Dong"?
On October 31, 2026, Vietcombank sold dollars for 25,990 dong, its lowest rate in about 18 months, while the dollar index was near 101.83.
What are the key points to validate first?
On October 31, 2026, Vietcombank sold dollars for 25,990 dong, its lowest rate in about 18 months, while the dollar index was near 101.83. The central reference rate and bank customer quotes are different measures; a change in one does not require an identical move in the other.
What should I do next in practice?
A lower USD/VND rate can reduce the dong cost of dollar expenses but also means dollar remittances convert into fewer dong.