# VinaCapital expert: VND may depreciate 1-2% due to the Russia-Ukraine conflict – VIETNAM STAR

> VinaCapital's chief economist said the Russia-Ukraine conflict has had a negligible direct effect on Vietnam, since bilateral trade is under 1% of Vietnam's trade. He warned that high oil and commodity prices could add 1-2 points to inflation and that the VND could fall 1-2% against the dollar.

- Date: 2022-03-14 · published 2022-03-14T12:00:00.000Z
- Category: geopolitics · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/42564-vinacapital-expert-vnd-may-depreciate-1-2-due-to-the-russia-ukraine-conflict
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md), [Urea](https://feedsoft.ai/c/UREA.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Vietnam imports about 145 million tonnes of fertilizer from Russia, so sanctions and high energy costs could raise farm input costs and feed prices there.

## Read by commodity

- WTI: bullish ▲
- UREA: bullish ▲
- USDVND: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-03-31 | [Exposure to the Russia-Ukraine conflict - BC Insight](https://feedsoft.ai/events/42211-exposure-to-the-russia-ukraine-conflict-bc-insight.md) | -1.0% | -5.7% |
| UREA | 2022-02-26 | [Russia-Ukraine conflict could add pressure to Australia's 'skyrocketing' farm costs - ABC News](https://feedsoft.ai/events/43023-russia-ukraine-conflict-could-add-pressure-to-australia-s-skyrocketing-farm.md) | +14.5% | +24.3% |
| UREA | 2022-05-02 | [Fertilizer sector set for biggest profits in years on Russia-Ukraine conflict \| Reuters](https://feedsoft.ai/events/8658-fertilizer-sector-set-for-biggest-profits-in-years-on-russia-ukraine-conflict.md) | -2.3% | -11.6% |
| UREA | 2022-10-04 | [How the Russia-Ukraine War Fueled Record Fertilizer Prices](https://feedsoft.ai/events/39051-how-the-russia-ukraine-war-fueled-record-fertilizer-prices.md) | +1.6% | -13.7% |
| UREA | 2021-07-22 | [Ukraine may restrict the import of fertilizers from Belarus](https://feedsoft.ai/events/45999-ukraine-may-restrict-the-import-of-fertilizers-from-belarus.md) | 0.0% | -2.4% |
| WTI | 2022-02-22 | [Grains, soybeans rally on fear of Russia-Ukraine conflict, surging oil \| Reuters](https://feedsoft.ai/events/8756-grains-soybeans-rally-on-fear-of-russia-ukraine-conflict-surging-oil-reuters.md) | +5.3% | +23.0% |
| WTI | 2025-08-21 | [Oil rises 1% on stalled Russia-Ukraine peace talks, strong US demand \| Reuters](https://feedsoft.ai/events/23491-oil-rises-1-on-stalled-russia-ukraine-peace-talks-strong-us-demand-reuters.md) | +0.8% | -0.1% |
| WTI | 2026-08-25 | [Grain exports stall as Ukraine steps up attacks on Russia](https://feedsoft.ai/events/14094-grain-exports-stall-as-ukraine-steps-up-attacks-on-russia.md) | -0.0% | +20.3% |

## Sources

- vietnamstar.net: https://vietnamstar.net/vinacapital-expert-vnd-may-depreciate-1-2-due-to-the-russia-ukraine-conflict/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.