Dollar reaches 7-day high against dong

By Dat Nguyen March 31, 2025 | 08:54 pm 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 rose marginally against the Vietnamese dong Tuesday morning and hit the highest since March 25.

Vietcombank sold the greenback 0.23% higher at VND25,800.

The State Bank of Vietnam lowered its reference rate by 0.008% to VND24,835.

Unofficial exchange points sold the dollar 0.15% lower at VND25,920.

Globally the dollar was steady on Tuesday after a bruising quarter as investors braced for reciprocal tariffs from U.S. President Donald Trump this week, while the Australian dollar hovered near a four-week low ahead of the central bank's policy decision, Reuters reported.

Investor focus has been firmly on the new round of reciprocal levies that the White House is due to announce on Wednesday, with details scarce. Trump said late on Sunday that essentially all countries will be slapped with duties this week.

That has left currency markets subdued as traders stayed on the sidelines awaiting clarity on Trump's trade policies. Trump has already imposed tariffs on aluminium, steel and autos, along with increased tariffs on all goods from China.

"The second quarter may bring with it as much uncertainty and volatility for investors as the first quarter of the year," said Anthony Saglimbene, chief market strategist at Ameriprise Financial.

"To date, there has been very little clarity on what and who these tariffs will target out of the gate. Market volatility could escalate depending on what and who is targeted."