The Vietnamese dong, already at record lows, is facing mounting pressure from the government’s infrastructure spending spree and a hit to exports from US trade policy.
The dong weakened as much as 0.1% to 26,401 per dollar Thursday, a fresh record. MUFG Bank expects it to trade at 26,500 against the greenback by year-end, citing higher import needs and a narrowing current-account surplus. Ho Chi Minh City Securities sees the currency finishing 2025 at 26,600 per dollar.