Dollar climbs against dong

By Dat Nguyen November 25, 2024 | 09:14 pm PT

U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul Feb. 7, 2011. Photo by Reuters

The U.S. dollar rose against the Vietnamese dong and major peers Tuesday morning as the U.S. is expected to impose tariffs on goods from China and neighboring countries.

Vietcombank sold the dollar 0.01% higher at VND25,509.

The State Bank of Vietnam raised its reference rate by 0.01% to VND24,295.

Globally the U.S. dollar surged against major rivals on Tuesday after President-elect Donald Trump said he would sign an executive order that would impose tariffs on products coming into the United States from Mexico, Canada and China, Reuters reported.

The U.S. currency also rose to its highest level since July 30 against China's yuan.

The Australian dollar sank to a more than three-month low of $0.64335 in early Asian hours and was last down 0.41% at $0.6478. The Aussie is often sold as a liquid proxy for the yuan given China's status as Australia's biggest trading partner.