US Dollar Reaches New High Against Vietnamese Dong

Vietcombank reported a 0.04% increase in the dollar's value, selling at VND26,310, marking the highest rate since June 24.

Central Bank Adjusts Reference Rate

The State Bank of Vietnam slightly increased its reference rate by 0.02% to VND25,058, signaling subtle shifts in the country's monetary policy.

Unofficial Exchange Points See Higher Rates

At unofficial exchange points, the dollar experienced a 0.08% rise to VND26,500, indicating a broader trend of dollar appreciation.

Global Dollar Weakness Contrasts Local Strength

Despite the dollar's gains in Vietnam, globally it faced challenges, hitting its weakest point against the euro since September 2021. Concerns over fiscal policies and trade uncertainties contributed to this trend, as reported by Reuters.

The dollar index fell to 96.688, its lowest since February 2022, while the euro reached a near four-year high of $1.179, showcasing significant shifts in global currency dynamics.

Expert Insights on Dollar's Future

"There are many reasons not to like the USD. Some are structural, like the erratic trade policies and fiscal risks," noted Moh Siong Sim, a currency strategist at Bank of Singapore, highlighting potential long-term challenges for the dollar.