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Chronic inflation
- Due to the chronic inflation experienced by Vietnam during the 1980s and 1990s, these coins lost all their relevant value and no coins were circulated for many years after this series.
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Jul 19, 2021 · Vietnam has pledged not to deliberately weaken its dong currency to gain an export advantage, reaching an agreement with the U.S. Treasury to refrain from "competitive devaluation" and make its...
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Apr 25, 2024 · Vietnam's currency has come under intense pressure this year, with the dong depreciating nearly 5% against the US dollar since January. The State Bank of Vietnam (SBV) is grappling with a complex challenge: maintaining exchange-rate stability while avoiding exacerbating inflationary pressures.
May 7, 2024 · On the domestic front, the excess Vietnamese đồng liquidity, resulting from weak credit growth, has widened the interest rate gap between Vietnamese đồng and US dollar in the interbank market, with đồng interest rates remaining low and US dollar interest rates considerably higher.
- What Affects The Vietnamese Dong’s Value?
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The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. The two versions were unified when the country became one in 1978. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. The State Bank of Vietnam sets the reference rate f...
The value of the Vietnamese dong against the US dollar gradually declined from the 2014 devaluation, when it was trading around 21,000, to around 23,600 in March 2020 as investors sought the safe haven of the USD at the start of the Covid-19 pandemic.
Analysts at Japanese financial services firm Mizuhoexpected the US dollar to remain strong against emerging market currencies: Mizuho’s Vietnamese dong forecast for 2022 indicates that the USD/VND pair could trade in a 23,300-24,200 range during the fourth quarter and end the year at 23,700. The pair could then retreat from the peak above 24,000 to...
Oct 26, 2022 · HANOI, Oct 26 (Reuters) - Vietnam is preparing to loosen its tight leash on the dong currency, including possibly widening its trading band with the U.S. dollar again, in order to conserve its...
May 30, 2024 · The State Bank of Vietnam signaled that it’s ready to defend the dong after the currency slipped to a record low amid bouts of dollar strength.
Feb 11, 2011 · Vietnam on Friday devalued the dong by about 7%, the most since at least 1993, in a push to curb the nation’s trade deficit, reports Bloomberg. The currency slumped as low as 20,850 per...
