![]() ![]() But the dollar’s rally in 2022 lifted the pair to a record high in September, reaching 23,513 on the last day of the month. The USD/VND exchange rate then declined to 23,080 at the end of 2020 and reached 22,645 by November 2021. Past performance is not a reliable indicator of future results 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. Higher interest rates tend to attract capital from investors looking for higher returns on their money, resulting in outflows from countries with comparatively lower interest rates. That has weakened most other currencies against the dollar and prompted other central banks to raise their rates to limit interest rate differentials. The value of the US dollar has soared in 2022 in response to the Federal Reserve ( Fed) rapidly hiking interest rates in an effort to tame record inflation. The value of the currency is influenced by Vietnam’s trade flows, foreign currency reserves, economic growth, interest rates and inflation, as well as US monetary policy. The dong has been devalued five times since 2014 with the aim of boosting exports and ensuring currency stability to control high inflation. The State Bank of Vietnam sets the reference rate for the value of the dong against the US dollar. The dong was revalued in September 1985 at a rate of 10 old dong to one new dong. The two versions were unified when the country became one in 1978. The Vietnamese dong was introduced in North Vietnam in 1946 to replace the French Indochinese piastre, and became the South Vietnam currency in 1953. What affects the Vietnamese dong’s value? In this article, we look at recent exchange rates trends and some of the latest Vietnamese dong predictions from analysts. What drives the value of the Vietnamese dong, and what is the outlook for the currency's future? The VND/USD exchange rate was at a low of 0.00004190 on 30 September.Ī trade surplus and moves by the State Bank of Vietnam (SBV) have supported the dong against other currencies such as the euro (EUR), which is facing its own pressures stemming from the Russia-Ukraine conflict and an economic slowdown. Like other emerging markets currencies, the Vietnamese dong ( VND) has fallen in value against the US dollar (USD) this year as the dollar has rallied to 20-year highs. Vietnamese dong forecast: How will the VND fare against USD and EUR?.What affects the Vietnamese dong’s value?.That is why all of our trips are flightless in destination, fully carbon offset - and we have ambitious plans to be net zero in the very near future.US30 US Wall Street 30 (USA 30, Dow Jones) We are committed to go as far as possible in curating our trips with care for the planet. We know that many of you worry about the environmental impact of travel and are looking for ways of expanding horizons in ways that do minimal harm – and may even bring benefits. Our Sailing Trips invite you to spend a week experiencing the best of the sea and land in the Caribbean and the Mediterranean. Our Mini Trips are small and mighty - they squeeze all the excitement and authenticity of our longer Epic Trips into a manageable 3-5 day window. Epic Trips are deeply immersive 8 to 16 days itineraries, that combine authentic local experiences, exciting activities and enough down time to really relax and soak it all in. Our Trips are suitable for both solo travellers and friends who want to explore the world together. That is why we have intensively curated a collection of premium small-group trips as an invitation to meet and connect with new, like-minded people for once-in-a-lifetime experiences in three categories: Epic Trips, Mini Trips and Sailing Trips. Increasingly we believe the world needs more meaningful, real-life connections between curious travellers keen to explore the world in a more responsible way. ![]() We are proud that, for more than a decade, millions like you have trusted our award-winning recommendations by people who deeply understand what makes certain places and communities so special. Culture Trip launched in 2011 with a simple yet passionate mission: to inspire people to go beyond their boundaries and experience what makes a place, its people and its culture special and meaningful - and this is still in our DNA today. ![]() Since you are here, we would like to share our vision for the future of travel – and the direction Culture Trip is moving in. ![]()
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