Vietnam Exchange Rate

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Vietnam: Vietnam's Central Bank devaluates dong for the second time in seven months

January 7, 2015

On 7 January, the State Bank of Vietnam devalued the Vietnamese dong (VDN) for the second time in seven months. The Bank weakened the currency by 1.0 percentage points from 21,243 VND per USD to 21,458 VND per USD in an effort to support the country’s exports. The adjustment followed a similar move in July 2014, when the Bank also devaluated the dong by 1.0%.

As a result of the new exchange rate band of +/-1.0% of the inter-bank average exchange rate, the ceiling exchange rate is now 21,673 VND per USD and the floor rate is 21,243 VND per USD.

FocusEconomics Consensus Forecast panellists expect the dong to trade at 21,630 per USD at the end of this year. For 2016, the panel projects the dong to trade at 21,838 per USD.


Author:, Senior Economist

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Vietnam Exchange Rate January 2015

Note: Daily spot exchange rate of Vietnamese dong (VND) against U.S dollar (USD).
Source: Thomson Reuters


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