自特朗普胜选以来，市场对美国可能采取的关税措施以及美联储鹰派货币政策的担忧加剧，推动美元走强。这一走势导致包括越南盾在内的多种新兴市场货币承压，尤其是那些高度依赖贸易的国家。韩元等其他亚洲货币同样受到了影响，本月，韩元兑美元汇率跌至2009年以来的最低水平。The exchange rate of the Vietnamese Dong against the US Dollar has fallen to a historically low level. Experts believe that the main reason for the depreciation of the Vietnamese Dong is closely related to the rising demand for the US Dollar in the international market. It is expected that the Vietnamese Dong may weaken further, and the Vietnamese central bank may increase the sale of US Dollars to stabilize market fluctuations.
The Vietnamese Dong has fallen to a historical low.
On Monday Eastern Time, after the Vietnamese central bank lowered the reference exchange rate of the Vietnamese Dong against the US dollar, the Vietnamese Dong fell by 0.1% to 25,479 VND per 1 USD, setting a historic low, surpassing the low point reached in May this year.
Since Trump's election victory, concerns over potential tariff measures from the USA and the Federal Reserve's hawkish monetary policy have intensified, driving the US dollar stronger. This trend has put pressure on various emerging market currencies, including the Vietnamese Dong, especially for countries that rely heavily on trade. Other Asian currencies, such as the Korean Won, have also been affected, with the exchange rate of the Korean Won against the US dollar reaching its lowest level since 2009 this month.
Tran Tuan Minh, CEO of the stock research and investment company TVI in Hanoi, Vietnam pointed out:
"Trump will officially take office next month, which has increased demand for the US dollar in the market. Additionally, as the end of the year approaches, Vietnamese companies will need more dollars to pay for contracts, and the Vietnamese Dong is expected to weaken further."
In response to the depreciation of the Vietnamese Dong, the Vietnamese central bank reiterated last month its willingness to sell dollars to maintain exchange rate stability. According to regulations, the trading price of the Vietnamese Dong against the US dollar is allowed to fluctuate within a range of 5% up and down from the reference exchange rate. Tran Tuan Minh expects:
The USD will continue to rise for a while, which will encourage the Vietnamese central bank to increase the sales of USD to stabilize market fluctuations.
