Market Update

The US dollar saw a slight increase of 0.19% against the Vietnamese dong in the black market, trading at VND26,470. Meanwhile, Vietcombank maintained its exchange rate at VND26,270, showing no change from previous rates.

Global Currency Trends

The State Bank of Vietnam’s reference rate remained steady at VND25,048. On the global stage, the dollar experienced fluctuations against the euro after comments from U.S. President Donald Trump regarding trade talks with Canada and potential actions against Iran, which affected risk appetite and stock markets.

Earlier, the dollar hit a three-and-a-half-year low against the euro as traders anticipated more aggressive rate cuts by the Federal Reserve in response to signs of a weakening U.S. economy.

Impact on Other Currencies

The Canadian dollar faced additional losses following Trump's announcement to halt trade talks with Canada over its digital services tax on tech companies, dropping 0.5% against the US dollar to C$1.37.

The dollar index showed little movement at 97.36 but is on track for its worst weekly decline since May 19, with a 1.40% drop.