Vietnamese dong equals how many yuan

How many yuan is Vietnamese dong equal to? Analysis of recent exchange rates and hot topics

Recently, the exchange rate of Vietnamese Dong against RMB has become the focus of many investors, travelers and foreign trade practitioners. This article will combine the hot topics on the Internet in the past 10 days to provide you with the latest exchange rate data and analysis of related hot content.

1. The latest exchange rate of Vietnamese Dong against RMB (as of October 2023)

2. Analysis of the relationship between recent hot topics and the Vietnamese dong exchange rate

1.Vietnam’s tourism industry recovers: As the international tourism market picks up, Vietnam has become a popular destination. The increase in the number of Chinese tourists has directly promoted the demand for Vietnamese dong, which may have an impact on the exchange rate in the short term.

2.China-Vietnam trade grows: According to customs data, China-Vietnam bilateral trade volume increased by 18.7% year-on-year in the first three quarters of 2023. The increase in trade activity has attracted much attention to exchange rate fluctuations.

3.Vietnam manufacturing transfer: Recently, many Chinese companies have considered moving some of their production lines to Vietnam. This industrial transfer trend may affect the supply and demand relationship between the currencies of the two countries in the future.

3. Historical exchange rate comparison (2023)

4. Analysis of factors affecting exchange rate

1.economic policy differences: China and Vietnam have different monetary policy directions. China maintains a prudent monetary policy, while Vietnam may adopt relatively loose policies to stimulate the economy.

2.inflation rate: Vietnam’s inflation rate in 2023 is expected to be around 4.5%, higher than China’s 2.8%. The inflation difference will affect the purchasing power of currency.

3.balance of payments: Vietnam’s foreign trade surplus continues to expand, and the increase in foreign exchange reserves helps stabilize the Vietnamese dong exchange rate.

5. Practical exchange suggestions

1.bank exchange: There is usually a difference of 1.5%-2% between the Vietnamese dong spot buying price and selling price of major Chinese banks. It is recommended to compare the exchange rates of multiple banks.

2.Local exchange in Vietnam: The exchange rates at gold stores and exchange offices may be better than those at banks, but you need to be careful to identify formal business locations.

3.Large amount exchange tips: For exchanges exceeding VND 30 million (approximately RMB 8,700), you can try to negotiate a more favorable exchange rate with the bank.

6. Forecast of future exchange rate trends

Most analysts believe that the Vietnamese dong/renminbi exchange rate will maintain slight fluctuations at the current level in the short term. Taking into account Vietnam's economic growth rate (GDP growth is expected to be 6.5% in 2023) and the continued inflow of foreign capital, the Vietnamese Dong may face appreciation pressure in the medium and long term. It is recommended that individuals and businesses with Vietnamese dong needs pay attention to the following key points:

Conclusion

Changes in the exchange rate between the Vietnamese dong and the yuan reflect the close economic relations between China and Vietnam. Whether you are planning to travel to Vietnam, study abroad, or engage in cross-border trade, keeping abreast of exchange rate trends can help you make smarter financial decisions. It is recommended to obtain real-time exchange rate information through authoritative financial institutions and choose the appropriate exchange time and method according to your own needs.