Vietnam Foreign Exchange Market

Market Overview:

Vietnam foreign exchange market size is projected to exhibit a growth rate (CAGR) of 10.01% during 2024-2032. The rising adoption of digital wallets and online payment solutions, increasing availability of cross-currency pairs involving the Vietnamese dong, and the introduction of innovative financial products and services represent some of the key factors driving the market.

Foreign exchange, or forex, is the global market for buying and selling currencies. It allows participants to trade one currency for another at an agreed-upon exchange rate. It expands over a vast network of banks, financial institutions, corporations, governments, and individual traders. It allows fund transfers by utilizing various credit instruments, including foreign currency bills, telephonic transfers, and bank drafts. Besides this, as it facilitates the flow of money obtained from international trade and promotes the exchange of goods and services among several countries, the demand for forex is increasing across Vietnam.

Vietnam Foreign Exchange Market Trends:

The rising focus on becoming a regional manufacturing and export hub is increasing trade volumes. This, along with the increasing number trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), represents one of the key factors impelling the market growth in Vietnam. Moreover, continuous technological advancements are supporting the market growth. The widespread adoption of online trading platforms and mobile applications is improving access to forex trading. Retail investors and individuals can now participate in currency trading more easily, contributing to increased market activity. Besides this, the rising reliance on digital payment methods and fintech innovations is strengthening the growth of the market in the country. The adoption of digital wallets and online paymentsolutions is streamlining cross-border transactions, reducing costs, and increasing efficiency for businesses and individuals engaged in international trade and forex activities. In addition, the increasing availability of cross-currency pairs involving the Vietnamese dong, such as VND/USD and VND/EUR, is offering lucrative opportunities to traders and investors, further driving the market. Along with this, the establishment of clear and transparent regulatory frameworks for forex trading is enhancing investor confidence and attracting more participants to the market. Furthermore, the burgeoning tourism sector in Vietnam is attracting a steady stream of foreign tourists, which, in turn, is facilitating the market growth. Moreover, the growth of e-commerce in leading to cross-border online transactions, necessitating currency conversions and forex market involvement. Along with this, the presence of reputable online brokerage firms and financial institutions offering forex trading services is making it more convenient for retail and institutional investors to access and participate in the forex market. Additionally, the introduction of innovative financial products and services, such as currency options and forex derivatives, is broadening the range of tools available to market participants, fostering increased hedging and speculative trading.

Vietnam Foreign Exchange Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on counterparty and type.

Counterparty Insights:

• Reporting Dealers
• Financial Institutions
• Non-Financial Customers
   

The report has provided a detailed breakup and analysis of the market based on the counterparty. This includes reporting dealers, financial institutions, and non-financial customers.

Type Insights:

• Currency Swap
• Outright Forward and FX Swaps
• FX Options
   

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes currency swap, outright forward and FX swaps, and FX options.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Foreign Exchange Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam foreign exchange market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam foreign exchange market?
• What is the breakup of the Vietnam foreign exchange market on the basis of counterparty?
• What is the breakup of the Vietnam foreign exchange market on the basis of type?
• What are the various stages in the value chain of the Vietnam foreign exchange market? 
• What are the key driving factors and challenges in the Vietnam foreign exchange?
• What is the structure of the Vietnam foreign exchange market and who are the key players?
• What is the degree of competition in the Vietnam foreign exchange market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam foreign exchange market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam foreign exchange market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam foreign exchange industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.