Dollar increases against dong

By Dat Nguyen December 4, 2024 | 08:41 pm PT

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

The U.S. dollar roses against the Vietnamese dong Thursday morning, while the euro weakened amid political and economic concerns.

Vietcombank raised its rate by 0.02% to VND25,479.

The State Bank of Vietnam hiked its reference rate by 0.02% to VND24,266.

The dollar was unchanged at VND25,730 on the black market.

It has risen against the dong by 4.25% since the beginning of the year.

Globally the euro was subdued on Thursday after the widely expected collapse of the French government, stoking worries about the region's second-biggest economic power, while bitcoin galloped past $100,000 for the first time, Reuters reported.

It rose to as high as $101,626 in Asian hours and was last up 3% at $100,882, taking its year-to-date gains to 138%.

"If we are talking where we go from here, there's reason to believe this thing could keep going," said Kyle Rodda, senior financial market analyst at Capital.Com.

"Given the reduced regulatory risk, the continued appeal of non-fiat assets because of the perception of U.S. fiscal profligacy, and greater geopolitical risks, there are continued tailwinds that could support prices going higher."