Is VND weakening?

Since the beginning of 2022, the USD Index has roughly stayed the same (+1.16%), while the USDVND pair has increased by 14%. In other words, the VND price has dropped by 13% compared to the average of the richest countries (UK, JP, EU and CAN) world since then.

However, in the period of 10 years (2015 - 2025), VND Price has performed quite well if not to say a little bit better than those countries. While the prices are highly correlated, variation of VND Price is remarkably much more well behaved. In comparison to Japanese Yen, Vietnam Dong actually performs better.