Dollar reaches new height against dong

By Minh Hieu July 1, 2025 | 10:12 pm PT

A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters

The U.S. dollar rose to a record-high against the Vietnamese dong Wednesday morning while it traded near a three-and-a-half-year low against major peers.

Vietcombank sold the greenback at VND26,323, up 0.05% from the previous peak of VND26,310 reached on June 24. The currency slipped 0.26% from Tuesday to around VND26,440 on the black market.

The U.S. currency has gained 3.02% on the dong since the start of the year.

The State Bank of Vietnam hiked its reference rate by 0.05% to VND25,070.

Globally, the U.S. dollar hunkered near the lowest since February 2022 against major peers on Wednesday, as traders considered dovish hints from Federal Reserve Chair Jerome Powell, along with the potential impact of President Donald Trump's spending bill, Reuters reported.

The greenback was pinned near its weakest since September 2021 on the euro, and was at its lowest since January 2015 versus the Swiss franc.

The dollar index, which measures the currency against six major counterparts, edged up slightly to 96.677, but did not stray far from the overnight low of 96.373.

The greenback held steady at 0.7906 Swiss franc, after dipping as low as 0.7873 franc in the previous session.

The euro was flat at $1.1802, sticking close to the overnight peak of $1.1829. Sterling edged up slightly to $1.37435, approaching Tuesday's high of $1.3787, a level last seen in October 2021.

The dollar made up a little ground against the yen, adding 0.1% to 143.59 yen, following the prior session's 0.4% slide.