Vietcombank Adjusts Rates Upward

In a recent development, Vietcombank has increased its rate by 0.08%, setting it at VND26,345. This adjustment reflects the ongoing volatility in the currency market.

State Bank of Vietnam Follows Suit

The State Bank of Vietnam has also raised its reference rate by 0.08% to VND25,091, signaling a tightening monetary policy in response to the dollar's strength.

Black Market Sees Dollar Gain

On the black market, the dollar experienced a 0.07% increase, reaching VND26,470. This marks a significant surge of 3.12% against the dong so far this year.

Global Dollar Index Trends

Globally, the dollar index, which measures the U.S. currency against six other units, was reported at 96.701. Despite being near 3-1/2-year lows, the index is on track for a 0.5% weekly drop, as per Reuters.

Expert Insights

Eddy Loh, chief investment officer at Maybank Wealth Management, highlighted potential constraints on the U.S. government's ability to provide fiscal support without exacerbating deficit concerns.