Vietcombank Reports Increase in Dollar Sales

Vietcombank has reported a 0.09% increase in the sale of the US dollar, now priced at VND26,370.

State Bank of Vietnam Adjusts Reference Rate

The State Bank of Vietnam has made a significant adjustment, hiking its reference rate by 4.09% to VND25,116.

Black Market Sees Dollar Rise

On the black market, the dollar experienced a 0.19% increase, reaching VND26,520.

Global Economic Factors Influencing Dollar Strength

Globally, the dollar has maintained its gains following President Donald Trump's successful passage of his signature tax cut bill. This development has increased pressure on countries to secure trade deals with the United States.

The dollar index, which measures the greenback against a basket of major currencies, had its worst first half since 1973. This downturn was attributed to Trump's implementation of sweeping tariffs, which raised concerns about the U.S. economy and the safety of Treasuries.

Despite these challenges, the euro saw a slight increase, edging up 0.1% to $1.1765.

Expert Analysis on the Dollar's Future

Hirofumi Suzuki, SMBC chief currency strategist, commented on the situation, noting the gradual slowdown of the U.S. labour market. Suzuki expressed concerns that tariff negotiations might not be favorable, predicting continued dollar weakness and yen strength.