Dollar dips to 5-week low against dong

By Dat Nguyen May 25, 2025 | 09:16 pm PT

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters

The U.S. dollar fell against the Vietnamese dong Monday morning to the lowest since April 21.

Vietcombank sold the greenback 0.11% lower at VND26,100.

The State Bank of Vietnam lowered its reference rate by 0.08% to VND24,940.

The dollar dropped 0.34% to VND26,340 on the black market.

It has risen 2.15% against the dong since the beginning of the year.

Globally the euro jumped along with risk-sensitive currencies like the Australian dollar on Monday after President Donald Trump backed down from threatened 50% duties on European Union shipments from June 1, after the bloc asked for time to "reach a good deal," Reuters reported.

The dollar continued its slump against a broad swathe of currency peers as Trump's policy reversals, as well as his sweeping spending and tax-cut bill currently in legislation, turned investors off from U.S. assets.

The U.S. dollar index, which tracks the currency against six major rivals, sank 0.3% to 98.813, extending a 1.9% tumble from last week.