Dollar inches up against dong

By Dat Nguyen April 22, 2025 | 12:46 am PT

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters

The U.S. dollar increased marginally against the Vietnamese dong Tuesday morning as it hovered around a three-year low against major currencies.

Vietcombank hiked its rate by 0.12% to VND26,090.

The State Bank of Vietnam lowered its reference rate by 0.12% to VND24,877.

On the black market, the greenback rose 0.13% to VND26,420.

Globally the dollar languished near its lowest level in three years on Tuesday as President Donald Trump's unrelenting attacks on the Federal Reserve chairman further eroded investor confidence in the U.S. economy, Reuters reported.

The U.S. currency sagged close to the decade-low reached the previous day against the Swiss franc, and hovered near a 3-1/2-year trough versus the euro.

The U.S. dollar index measure against six major peers stood at 98.454, after sinking as low as 97.923 in the previous session, a level not seen since March 2022.

"There's this terrible stalemate" between U.S. President Donald Trump and Fed chief Jerome Powell, fomenting "concern that there will be some sort of action taken to replace Powell, which would create a real panic in the dollar," said Eric Kuby, chief investment officer at North Star Investment Management.