Unofficial Exchange Rates See Dollar Rise

In a recent development, unofficial exchange points reported a 0.11% increase in the U.S. dollar's value, selling at VND26,480. Meanwhile, Vietcombank maintained its rate at VND26,400, showcasing a steady stance amidst fluctuating market conditions.

State Bank of Vietnam Holds Steady

The State Bank of Vietnam's reference rate remained unchanged at VND25,228, indicating a cautious approach to the current economic landscape.

Global Dollar Trends

Globally, the dollar showed signs of firming up on Friday, yet it was on track for a weekly decline. This trend comes as traders adjust their expectations for more interest rate cuts this year, influenced by weakening economic data and the anticipation surrounding U.S. President Donald Trump's nominations to the Federal Reserve.

Recent economic reports have played a significant role in shaping these trends. The July jobs report, which revealed fewer jobs added than expected and downward revisions for previous months, has contributed to the dollar's recent drop.

Despite these challenges, the dollar index experienced a slight gain on Friday, suggesting a period of consolidation. With no fresh news to dictate direction, the index was up 0.21% at 98.19, yet it is poised for a weekly loss of approximately 0.5%.

In contrast, the euro saw a minor decline, dropping 0.09% to $1.1655, reflecting the ongoing volatility in global currency markets.