Recent analysis indicates a complex interplay of developments affecting the Singapore Dollar (SGD) and the Vietnamese Đồng (VND) exchange rate. As of mid-November 2025, the SGD to VND exchange rate is situated at 14-day highs near 20,308 VND, showing stability within a tight range and just slightly below the three-month average of 20,410 VND.
The Monetary Authority of Singapore (MAS) has recently adjusted its monetary policies, easing the appreciation rate of the SGD to support the economy amid global trade uncertainties. Following stronger-than-expected economic growth, including a 2.9% GDP increase year-on-year in Q3 2025, MAS has slightly upgraded its growth forecast, bolstering confidence in the SGD. Analysts note that the SGD has exhibited safe-haven characteristics amid rising global trade tensions, further contributing to its strength.
In contrast, the Vietnamese Đồng faces pressures that may lead to depreciation. Experts forecast a decline of approximately 3% against the US dollar, influenced by a strong US dollar and proactive U.S. Federal Reserve policies. The State Bank of Vietnam’s recent interventions, including a $1.5 billion sale through forward contracts to stabilize the VND, underline ongoing challenges in maintaining currency stability. Tariffs imposed by the U.S. on Vietnamese goods have also negatively impacted the VND, as Vietnam seeks to balance its export competitiveness through currency adjustments.
Overall, while the SGD appears resilient amid economic adjustments and a safe-haven status, the VND is grappling with external pressures and expected depreciation. Observers will continue to monitor these trends closely, given their implications for cross-border transactions and fiscal planning in both Singapore and Vietnam.
