Market

Dollar Strengthens Against Dong in Black Market: A Closer Look at Vietnam's Currency Fluctuations

Unofficial Exchange Points See Dollar Rise

In a recent development, unofficial exchange points have reported a 0.19% increase in the dollar's value against the dong, now trading at VND26,520.

Official Rates Remain Steady

Contrasting the black market's activity, Vietcombank has maintained its exchange rate at VND26,350, while the State Bank of Vietnam’s reference rate holds steady at VND25,116.

Global Currency Movements

Meanwhile, on the global stage, sterling is facing a weekly loss, influenced by fiscal and political uncertainties in the UK. The pound remains at $1.36 against the dollar and has seen a slight decline against the euro, trading at 86.26 pence.

This week's performance marks a significant downturn for the pound, especially against the euro, with a 1% drop, the largest since the early April implementation of U.S. tariffs on global economies.