📈 Vietnamese Dong Price Prediction (2024)

FAQs

Is the Vietnamese dong expected to go up? ›

WalletInvestor's price prediction for Vietnamese Dong echoes with the projection of an uptrend to $0.000074.

The dong will stabilise between US$:D23,500 and US$:D24,000 in 2023, against our existing forecast for an annual average of about US$:D23,300. The exchange rate will resume an appreciating trend in 2024.

Future currency rate of the currencies is predicted at 40432.307887406 (72.133% ) after a year according to our prediction system. This means that if you invested $100 now, your current investment may be worth $172.133 on 2024 June 08, Saturday.

Producers and traders now benefit from a low interest rate on their loans and an increasing deposit rate. Investing in Vietnamese dong is therefore proving to be a real opportunity for foreign investors, who must nevertheless keep an eye on inflation of the dong.

The economic outlook from 2023 to 2026 is for rapid economic expansion, with GDP growth forecast to grow at a pace of around 6.5% in 2023, with sustained strong growth at a pace of around 6.7% per year over 2024-2026.

The VIRA also expects the stability of the exchange rate will last until the end of this year. It estimates the average spot rate of USD/VNĐ in the interbank market in 2023 will be around VNĐ23,626 per dollar.

1 USD = 23,487.962743 VND Jun 07, 2023 11:37 UTC

Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently.

Vietnamese Dong or US Dollar, which is the best currency to use in Vietnam? Most payments are made with Vietnamese Dong, but US dollars can be directly used for some hotels, restaurants, tours, or other services. You may see the prices for food, drinks, and souvenirs in Ho Chi Minh City's airport are all in US dollars.

Will My US Dollars Work in Vietnam? Due to the historical involvement of the United States in Vietnam and the country's dependence on tourism, it is fair to ask, “Will my US dollars work in Vietnam?” In short, the answer is yes. In the major cities of Hanoi and Ho Chi Minh City, US dollars are widely accepted.

Bank of America, N.A. does not buy or sell Iraqi dinar banknotes or Vietnamese dong banknotes, and currently has no plans to offer this service in the future.

Is 1 million Vietnamese dong a lot? ›

While that's technically true, having a million đồng does not make you wealthy. At the time of this writing, for example, 1 million đồng is worth about $43 U.S. dollars. That is roughly the amount that a tourist would spend per day vacationing in Hanoi.

Par value of 500,000 VND

The current converted value is equivalent to about 21.4 USD. This is a banknote easily confused with much lower denominations: 20,000 VND. So, if you are still not good at using Vietnamese currency, you should spend some extra attention when using two par value of 20,000 VND and 500,000 VND.

Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value. A key effect of devaluation is that it makes the domestic currency cheaper relative to other currencies.

Vietnam's digital economy is predicted to continue growing with a CAGR (compound annual growth rate) of 31 percent with value reaching $49 billion by 2025, according to a report about e-commerce.

Inflation Rate in Vietnam is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Vietnam Inflation Rate is projected to trend around 5.00 percent in 2024 and 4.40 percent in 2025, according to our econometric models.

Vietnam has continued to be an attractive destination for foreign investments. The country's investor-friendly policies and strong economic growth in an otherwise bleak worldwide economic condition proved to be effective magnets for foreign investors.

The Kuwaiti Dinar (KWD) is the most valuable currency in the world. In Kuwait, the Indian ex-pat group has a strong presence, making the INR to KWD rate the most popular Kuwait Dinar exchange rate. The Kuwaiti dinar continues to remain the highest currency in the world, owing to Kuwait's economic stability.

The 2023 Outlook for Major Currency Pairs

EUR/USD is predicted to reach 1.10 in March 2023, before declining to 1.08 September 2023 and holding at 1.08 in December 2023. USD/JPY is expected to hit 135 in March 2023, before trading at 133 in June 2023, 130 in September 2023 and 128 in December 2023.

Will USD get stronger in 2023? ›

The US dollar has eased from its peak level, but exchange rate volatility will remain elevated in 2023 on the back of global macroeconomic uncertainty. However, although the dollar is likely to decline further in 2023, it is expected that exchange rate volatility will remain elevated.

In short, when traveling to Vietnam, you should carry cash and VISA cards, this's the best choice. Vietnam Dong and USD are preferred to use in Vietnam. And, it is very easy to change USD into Dong at the banks in Vietnam.

It depends on what kind of travelling you like to do; you will spend from just 600,000VND (~30 USD) for local style to over 1,400,000VND (~70USD) for luxury travel for 2 of you. It means that you should take 8,400,000VND (~420USD) to 19,600,000VND (~980USD) for spending during 2 weeks in Vietnam for food and drinks.

Any Bank of America customer can exchange foreign currency at any financial center.

The Kuwaiti dinar is the strongest currency in the world, with 1 dinar buying 3.26 dollars (or, put another way, $1 equals 0.31 Kuwaiti dinar).

Sell your Vietnam Dong online with Travel FX using our currency buy back service. We offer great buy back rates and a super simple process.

How much money is considered rich in Vietnam? ›

The average wealth of people in the top 5% of the richest population in 2021 is 316,658 USD (equivalent to 7.8 billion VND), top 10% richest is 181,132 USD (equivalent to 4.1 billion VND). Meanwhile, the average wealth of the poorest 50% of the population is only 3,429 USD (nearly 78 million VND).

The price range for hatchbacks is 120,000 – 500,000, mid-size sedans range from 600,000 – 12,00,000 and luxury sedans range from 14,00,000 – 45,00,000. SUV's start at 900,000 and go up to 60,00,000.

According to the State Bank of Vietnam (SBV), foreigners are allowed to bring into/out of Vietnam of up to USD 5,000 or equivalent. Specific paperwork and approval are required before you are allowed to bring in currency beyond this amount into the country.

In Vietnam, a 50m2 downtown house costs at least around $500,000, sometimes even higher. However, the average income of Vietnamese is just over $3,000 a year. Thus, it will take us more than 160 years-worth of income to purchase a house.

Credit cards are widely accepted but, in rural areas particularly, you should carry cash as a back-up. It may be difficult to cash travellers' cheques.

The cost of living in Vietnam

Vietnam is well-known for offering a high standard of living at a low price. According to 2022 data, the cost of living in Vietnam is around 42.8% lower than in the United Kingdom and 63.5% lower than in the United States.

The average salary in Vietnam is 6.1 million Vietnamese Dong (VND) per month, according to the July 2021 press release by the General Statistics Office of Vietnam. As per the August 2021 exchange rate, this is equivalent to 277 USD/month.

Is Vietnam cheaper than USA? ›

By figuring out which country is more expensive, you'll understand where you'll get more bang for your buck. A week in Vietnam can cost you about $451 (per person), while a week in the USA may cost you around $1,982. These differences become even more noticable if you plan to spend a longer time in the country.

Tipping isn't mandatory or customary in Vietnam, but it is always appreciated. If you're happy with the services provided by waiters, drivers and other service workers, leaving a small tip is a good way to show your appreciation.

There is no world currency, but there are reserve currencies that are used in transactions by central banks, corporations, and governments. The U.S. dollar is the world's most widely used reserve currency since the U.S. economy, and its financial system is stable.

To revalue, the government might change the rate to five units per dollar. This results in its currency being twice as expensive when compared to U.S. dollars than it was previously. If the aforementioned currency revaluation occurred, any assets held by a U.S. company in the foreign economy need to be revalued.

Competitive devaluation is when two or more countries compete to improve their position in international markets. Each country tries to devalue its currency to be more competitive in terms of exports and foreign investment; this scenario is often known as a “currency war”.

Vietnamese Dong or US Dollar, which is the best currency to use in Vietnam? Most payments are made with Vietnamese Dong, but US dollars can be directly used for some hotels, restaurants, tours, or other services. You may see the prices for food, drinks, and souvenirs in Ho Chi Minh City's airport are all in US dollars.

For visitors to Vietnam, this often leads to the surprise that they're “instant millionaires” upon converting foreign currency into đồng. While that's technically true, having a million đồng does not make you wealthy. At the time of this writing, for example, 1 million đồng is worth about $43 U.S. dollars.

100 US Dollar is 2324429 Vietnamese Dong.

For a more comfortable backpacker experience in Vietnam, it's best to budget around $50 per day. This way, you'll have more money to spend on things like food, drinks, activities and hotel rooms. For a comfortable mid-range experience in Vietnam, it's best to budget $60 to $100 per day for your entire costs.

Should I bring American money to Vietnam? ›

Due to the historical involvement of the United States in Vietnam and the country's dependence on tourism, it is fair to ask, “Will my US dollars work in Vietnam?” In short, the answer is yes. In the major cities of Hanoi and Ho Chi Minh City, US dollars are widely accepted.

CURRENCY RESTRICTIONS FOR ENTRY: None. However, Vietnamese Dong in excess of VND 150,000,000 or foreign currency in excess of 5,000 U.S. dollars or equivalent must be declared.

It depends on what kind of travelling you like to do; you will spend from just 600,000VND (~30 USD) for local style to over 1,400,000VND (~70USD) for luxury travel for 2 of you. It means that you should take 8,400,000VND (~420USD) to 19,600,000VND (~980USD) for spending during 2 weeks in Vietnam for food and drinks.

The salary range in Vietnam is 4,360,000 VND/month (minimum salary) to the highest average of 76,900,000 VND/month (actual monthly salary may be higher). These figures are inclusive of bonuses.

What is the Average Salary in Vietnam? According to the latest statistics (2022), the median monthly salary in Vietnam is 6.5 million VND per month (source) or approximately $275 USD/month.