Vietnamese currency

Update news Vietnamese currency

Currency stable amid fresh Fed hike

Despite the US Federal Reserve’s latest interest rate hike, the Vietnamese currency has seen only limited depreciation when compared to the currencies of its regional partners.

Vietnamese currency forecast to strengthen against US dollar in 2021

Since July 2021, the Vietnamese dong has strengthened by 1.3 per cent against the US dollar and the unit has averaged VND23,930 per US dollar in the year-to-October.


Vietnamese currency forecast to continue weakening in 2020

Weaker foreign direct investment inflow on the back of the Covid-19 pandemic and a likely preference by the central bank for a weaker Vietnamese dong to support export competitiveness would be key drivers of dong weakness over the near term,

Vietnamese currency more stable than other regional peers

Though the unofficial value of the VND has now fallen about 3 percent against the USD, the rate is still a smaller depreciation than that seen by most of Vietnam’s regional peers and is expected to stabilise around that level.