The EUR to VND exchange rate recently stabilized near 30,843 VND, marking a 60-day high and slightly exceeding the three-month average of 30,686 VND. Trading has remained relatively stable within a 3.6% range, from 30,210 to 31,309 VND. Despite favorable GDP data from the Eurozone, the euro has faced downward pressure, influenced by an anticipated contraction in Germany’s industrial output and ongoing geopolitical tensions.
Analysts highlight that the European Central Bank (ECB) has maintained a clear stance against targeting exchange rates for competitive advantage. This approach, combined with recent "upside surprises" in Eurozone inflation—now at 2.2%—suggests a need for continued vigilance regarding monetary policy. As economies navigate challenges like energy market fluctuations and the implications of the ongoing war in Ukraine, the ECB's commitment to stable inflation could play a crucial role in the euro’s future strength.
On the other hand, the Vietnamese đồng (VND) is projected to depreciate approximately 3% against the US dollar in 2025, driven by a robust USD and prevailing global economic trends. Additionally, the recent launch of a cryptocurrency regulation pilot program mandates that all crypto transactions be conducted in VND, which may have mixed effects on its value.
Furthermore, the VND has faced external pressures from severe flooding in Northern Vietnam that resulted in significant economic losses, adding to the uncertainties surrounding its performance.
In the context of the oil market, ongoing volatility is observed, with oil prices currently at $62.21 per barrel, 3.6% under the three-month average of $64.51. Such fluctuations in oil prices can indirectly impact the euro, as the Eurozone remains sensitive to energy supply dynamics.
Overall, the interplay of these economic indicators, regulatory changes, and geopolitical developments will influence the EUR to VND exchange rate in the near term. Investors and businesses engaging in international transactions should stay attuned to these developments to optimize their currency exchanges.
