With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,219 VND/USD and the floor rate 23,722 VND/USD.
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,325 VND/USD on February 3, unchanged from January 24, the last working day before the Lunar New Year (Tet) holiday.
Singapore-based United Overseas Bank (UOB) has revised its forecast for Vietnam’s 2025 GDP growth to 7% from its previous projection of 6.6%, following the strong momentum from 2024.
A strong US dollar will still be a major factor influencing the USD/VND exchange rate in 2025, causing the Vietnamese dong to depreciate by about three% against the dollar, experts forecast.
Vietnam’s gross domestic product (GDP) in 2025 is forecast to grow 6.7%, with progress easing from 7.5% year-on-year in the first half to 6.1% in the second half, according to Standard Chartered’s latest macroeconomic update released on December 12.