1. USD/VND Exchange Rate
In the first 10 days of May 2025, the USD/VND exchange rate fluctuated slightly around the level of 25,555 – 26,005, showing a return to an upward trend after a short adjustment period. This reflects stable foreign currency demand in trade and inflation forecasts in the US.
- Current Exchange Rate: The central exchange rate announced by the State Bank on May 30, 2025, is 24,962 VND/USD.
- Trend: The USD/VND exchange rate is expected to fluctuate around 26,000 VND/USD in Q2 and Q3 of 2025, with a possibility of a slight decrease by the end of the year.
- Reasons: Pressure from US tariff policies and expectations that the US Federal Reserve (Fed) will cut interest rates in the second half of 2025.
2. JPY/VND Exchange Rate (Japanese Yen)
The JPY/VND is showing a slight increase from 168 to around 175 in the first week of May, partly reflecting the Yen's recovery after a deep decline. However, the fluctuation range remains small, suitable for individual foreign currency conversion needs.
- Current Exchange Rate: The accounting exchange rate for May 2025 is 1 JPY = 171 VND.
- Trend: The Japanese Yen is expected to continue appreciating against the USD, thanks to the Bank of Japan's (BoJ) interest rate increase policy and its role as a safe-haven asset.
- Reasons: Wage increases in Japan and expectations that the BoJ will accelerate interest rate hikes.
3. CNY/VND Exchange Rate (Renminbi)
The CNY/VND is maintained within a narrow range from 3,430 – 3,470, reflecting the stability of the Renminbi amid China's tightening monetary policy. This is a popular choice for businesses with trade relations with China.
- Current Exchange Rate: The accounting exchange rate for May 2025 is 1 CNY = 3,408 VND.
- Trend: The Renminbi may experience slight fluctuations, depending on China's monetary policy and trade relations with the US.
- Reasons: Monetary easing policy by the People's Bank of China and international trade developments.
4. EUR/VND Exchange Rate (Euro)
- Current Exchange Rate: The accounting exchange rate for May 2025 is 1 EUR = 27,560 VND.
- Trend: The Euro is forecast to continue appreciating, potentially reaching 1.15 USD/EUR by the end of 2025.
- Reasons: Europe's increased defense spending policy and expectations that the European Central Bank (ECB) will end its monetary easing cycle.
The EUR/VND shows a slight upward trend in the first half of May, rising from 27,980 to around 28,300. This partly indicates capital flowing back to Europe and expectations of economic recovery in the Eurozone.
