Vietnam USD exchange rate remains stable amid Fed rate hike concerns

The State Bank of Vietnam maintained the central exchange rate between the Vietnamese Dong and the US Dollar at 25,610 VND as of early September 2026. While the USD saw recent upward pressure due to market concerns regarding Federal Reserve interest rate hikes, it experienced a slight decrease after reaching a two-week peak.

Global market volatility is being driven by expectations surrounding the Federal Reserve. Following comments from Fed Chair Kevin Warsh, traders have increased the probability of an interest rate hike in September to 63%, up from 35%. Additionally, rising Brent crude oil prices, influenced by military tensions between the US and Iran, are contributing to inflationary pressures.

In the domestic Vietnamese market, commercial banks such as Vietcombank and Vietinbank have reported varying USD buy and sell rates, with Vietcombank listing rates around 25,850 - 26,260 VND. Upcoming US non-farm payroll data is expected to be a critical factor in determining the future direction of the USD.