VND/USD exchange rate surges again
The VND/USD exchange rate has risen sharply since the end of last week, now reaching VND25,900 in the free market, an increase of 4.5% from the beginning of 2024.

The VND/USD exchange rate has sharply risen following the Fed's decision. Photo by The Investor/Trong Hieu.
On the Wednesday morning, the State Bank of Vietnam (SBV) set the reference exchange rate at VND24,320, up VND12 from the previous day.
At state-controlled Vietcombank, one of the "Big 4" banks in Vietnam, the exchange rate is currently listed at VND25,206 - 25,536 (buy-sell), up VND13 from the previous session, and a 4.6% increase from the beginning of 2024.
The domestic exchange rate has been volatile amid a strengthening global USD, which has reached its highest level in two years following the Federal Reserve's (Fed) announcement of a slower pace for interest rate cuts in the coming year.
The U.S. Dollar Index (DXY), which tracks the dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has risen 0.14%, reaching 108.24.
Since late September, the greenback has increased by more than 7%, partly due to expectations of faster economic growth in the U.S. driven by policies under President-elect Donald Trump.
These expectations contrast with more cautious growth forecasts and interest rate policies in other global economies, leading to a widening interest rate differential between central banks.
This interest rate differential continues to support the upward momentum of the U.S. dollar, particularly as the Fed is expected to slow its rate cuts next year.
This situation poses significant challenges for Vietnam’s monetary policy in late 2024 and early 2025, as deposit interest rates for VND are at their lowest levels in three years. As of November, the rates ranged from 5.2% to 6% annually for a 12-month term.
Exchange rate fluctuations have been unpredictable throughout 2024. In May, the VND depreciated by over 5% against the USD and then cooled down. By August, the increase had narrowed to around 2.3%.
Since October, the exchange rate has continued to rise, and by October 23, commercial banks had listed the buy-sell rate at VND25,460 - 25,560 per USD.
According to some experts, the trend of low interest rates is unlikely to persist into 2025. The State Bank of Vietnam has kept rates low for an extended period to stimulate economic growth, but with growing pressure on the exchange rate, the central bank may need to adjust its policy.
Michael Kokalari, chief economist at Vietnam's leading fund manager VinaCapital, in a report released on December 12 wrote that the Vietnamese dong is likely to depreciate 3% in 2025 on anticipation that the US Dollar/DXY Index will finish 2025 nearly unchanged,
In a report issued on December 12, Standard Chartered forecasts Fed rate cuts, which should lead to a softer-USD bias over the next few quarters, will result in the exchange rate of USD/VND at 25,250 by the end of 2024 and 25,450 by Q2/2025.
Tthe bank predicts the USD may face a period of weakness early in 2025 due to continued Fed rate cuts and uncertainty about policy implementation. But it is anticipated to strengthen in H2/2025 as fiscal and tariff measures under Trump 2.0 are clarified and implemented.
- Read More
Vietnam’s VN-Index world’s second-worst performer in Apr amid US tariff turmoil
Vietnam’s benchmark VN-Index dropped by more than 80 points, or 6.2%, in April, ranking as the second-worst performing stock index globally, according to data compiled by IndexQ.
Finance - Sat, May 3, 2025 | 6:48 pm GMT+7
American International School Vietnam chairwoman arrested for disrupting public order
Ho Chi Minh City police's investigative agency on Thursday initiated legal proceedings against and detained chairwoman of American International School Vietnam (AISVN) Nguyen Thi Ut Em for "disturbing public order.”
Companies - Sat, May 3, 2025 | 5:07 pm GMT+7
Nike, Adidas ask President Trump for tariff exemption over business shutdown concerns
Major footwear and apparel brands, including Nike and Adidas which outsource a large portion of their output from Vietnam, are asking U.S. President Donald Trump for a tariff exemption due to concerns over looming cost surges and business shutdown.
Economy - Sat, May 3, 2025 | 1:12 pm GMT+7
Vietnam's Novaland wins lawsuit against Korean giant Taekwang Vina over HCMC project
Vietnam's leading developer Novaland has won a legal dispute with South Korea’s Taekwang Vina regarding a major real estate project in Thu Duc city, Ho Chi Minh City.
Companies - Sat, May 3, 2025 | 11:20 am GMT+7
Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Banking & Finance - Sat, May 3, 2025 | 8:17 am GMT+7
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
Vietnam's leading construction contractor Hoa Binh targets US market amid low domestic profit
Hoa Binh Construction Group, one of Vietnam's top contractors, is negotiating a joint venture agreement with American partners to pave the way for implementing major projects in the U.S.
Companies - Fri, May 2, 2025 | 2:04 pm GMT+7
Northern Vietnam province Hai Duong to have first urban area-golf course complex
Hai Duong province's authorities have granted in-principle approval for the Lien Hong New Urban Area and Golf Course project, with a total investment of VND11 trillion ($423 million).
Real Estate - Fri, May 2, 2025 | 9:59 am GMT+7
Central Vietnam 'awakened' by major resort projects
From once-abandoned coastal lands to emerging resort-urban areas, central Vietnam is witnessing a strong resurgence of investment.
Real Estate - Fri, May 2, 2025 | 9:22 am GMT+7
Vietnam Airlines posts strong profit on international passenger surge, fuel price decline
National flag carrier Vietnam Airlines (HVN) said on Wednesday that it recorded consolidated pre-tax profit of around VND3.6 trillion ($138 million) on consolidated revenue of approximately VND31.1 trillion ($1.2 billion) in Q1/2025.
Companies - Fri, May 2, 2025 | 8:17 am GMT+7
S Korean firms pledge nearly $2 bln in new investments in Indonesia
South Korea's companies will increase their investment in Indonesia by $1.7 billion, Indonesian Economic Minister Airlangga Hartarto said on Monday after attending a meeting between a Korean business association and President Prabowo Subianto.
Southeast Asia - Thu, May 1, 2025 | 10:01 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?