Dollar hikes against dong on black market

By Dat Nguyen   May 12, 2025 | 09:18 pm PT
Dollar hikes against dong on black market
An employee holds U.S. dollar bank notes at a money changer in Jakarta, Indonesia, April 9, 2025. Photo by Reuters
The U.S. dollar rose slightly against the Vietnamese dong Tuesday morning on the black market.

It went up 0.09% to VND26,500 at unofficial exchange points. Vietcombank kept its rate unchanged at VND26,140.

The State Bank of Vietnam hiked its rate by 0.11% to VND24,973.

The dollar held strong gains on Tuesday as investors cheered a tariff deal between the U.S. and China to tap the brakes on a trade war between the world's two largest economies that had fed fears of a global recession, Reuters reported.

The dollar was last down 0.1% at 148.29 yen and fetching 0.8448 against the Swiss franc, after having jumped 2.1% and 1.6%, respectively, against the two in the previous session.

"It's way better than the market was expecting," said Rodrigo Catril, senior FX strategist at National Australia Bank.

"It's just an indication of, for one, the U.S. administration is quite sensitive to the impact (tariffs are) having on the economy, and some would say there's been a serious walk back in terms of what they've done."

 
 
go to top