dong/dollar exchange rate

Update news dong/dollar exchange rate

With the internal strength of the currency and the central bank's flexible management, the VND is expected to depreciate by a maximum of 3% in 2022.

Exchange rate fluctuations reduce national debt by VND57 trillion

The Government's outstanding debt by the end of 2022 is estimated to decrease by about VND57 trillion, down 2 percent compared to the outstanding balance at the end of 2021.

US weak-dollar policy to have impact on Vietnam economy

VietNamNet Bridge - As the State Bank of Vietnam (SBV) pursues a stable dong/dollar exchange rate policy, the depreciation of the US dollar in the world market will also lead to the weakening of the dong.

Gold, dollar price stable, preventing speculators from making money

VietNamNet Bridge - The gold and dollar markets worth tens of billions of dollars have remained stable despite fluctuations in the world market.

What will happen in Vietnam if US raises the interest rate?

If the US Fed raised the prime interest rate, the overseas remittance (kieu hoi) flow to Vietnam would slow down, the dong would depreciate, and the dong interest rate would increase. The decision will also change international capital flow.

As US dollar price soars and yuan plummets, year-end threat looms

VietNamNet Bridge - The sharp appreciation of the US dollar after the news about the US election and the fall of the Chinese yuan to a 6-year low could create risks for Vietnam’s economy.

Japanese currency appreciation increases public debt in Vietnam

VietNamNet Bridge - “The world is trying to run away from the yen, but Vietnam seems to go in the opposite direction,” Le Xuan Nghia, member of the National Finance & Monetary Advisory Council, said. 

Zero percent interest rate could lead to bleeding of dollars

Analysts have warned that the kieu hoi flow (overseas remittance) to Vietnam would slow, while Vietnamese may deposit dollars at Laos banks instead of Vietnamese as a result of the State Bank’s zero-percent interest rate policy.

What if the VND continues to depreciate?

VietNamNet Bridge - At least two financial institutions have predicted that the dong will continue depreciating against the US dollar.

In competing with China, weak VND policy will not help

VietNamNet Bridge - Economists have repeatedly advised the government not to rely on a weak dong policy when trying to compete with Chinese products as demand in China is falling.

Weaker VND feared to cause flight of hot money out of Vietnam

VietNamNet Bridge - Analysts warned that dollar price fluctuations would prompt foreign investors to withdraw capital from Vietnam. If so, this would put pressure on the exchange rate.

Dollar up on flea market; hits new SBV ceiling rate

Dollar rates soared in the flea market and touched the latest ceiling rate set by the State Bank of Viet Nam in commercial banks August 24.

How much value will the dong lose this year?

VietNamNet Bridge - Some international institutions have predicted that the dong will depreciate by 5 percent this year, while economists have urged the government to devalue the currency by more than 10 percent. 

Yuan devaluation puts pressure on Vietnamese exports

VietNamNet Bridge - The Chinese yuan depreciation will affect Vietnam’s economy as the country is Vietnam’s third largest trading partner.

Vietnam’s forex reserves sufficient, dong won’t depreciate further

The watchdog agency has reassured the public, saying that the dong/dollar exchange rate will not lose more than 2 percent of value by the end of the year and that the foreign exchange reserves have reached $37 billion.

Dollar price hits ceiling, experts question SBV’s exchange-rate policy

The dollar price on May 6 hit the ceiling of VND21,673 per dollar, the highest ever level. The State Bank once again attributes this to people’s anxiety. Experts believe the dong 2 percent devaluation plan in 2015 is not feasible.

Speculation blamed for dollar price fluctuations

VietNamNet Bridge - The dollar price has been increasing for a month, while the official dong/dollar exchange rate remains unchanged as the State Bank has committed not to devalue the dong by more than 2 percent in 2015.

Dollar appreciates, but exchange rate may not be adjusted in first half of year

VietNamNet Bridge – The dollar price has been appreciating against the Vietnam dong like other currencies but analysts believe the State Bank will not adjust the dong/dollar exchange in the first half of the year.

SBV unexpectedly devalues dong by 1%, businesses remain calm

The State Bank of Vietnam (SBV) unexpectedly devalued the dong by one percent starting on January 7, 2015. It will now have the right to devalue the dong again by only one percent within the year.