Dollar rises against dong

By Minh Hieu   March 7, 2025 | 01:19 am PT
Dollar rises against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar strengthened against the Vietnamese dong Friday morning while trading near a 4-month low against major currencies.

Vietcombank sold the greenback at VND25,710, up 0.19% from Thursday. On the black market, the dollar plunged 0.29% to VND25,810.

The State Bank of Vietnam reduced its reference rate by 0.03% to VND24,730.

Globally, the U.S. dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world's largest economy, leaving investors grasping for jobs data due later in the day, Reuters reported.

The U.S. dollar index, which measures the greenback against six major rivals, fell 0.05% to 104.15.

The euro was little changed at $1.0790 after strengthening to its highest in four months in the previous session. The euro bloc currency was eying its biggest weekly gain since March 2009, up 4% on the week so far. Sterling was little changed at $1.28845.

Another reprieve of levies aimed at Mexico and Canada announced by U.S. President Donald Trump on Thursday offered little relief, keeping the safe-haven yen not far off its strongest against the greenback since early October.

Against the Japanese currency, the dollar was last down 0.09% at 147.86 yen.

The greenback also lost some ground against the Canadian dollar and Mexican peso following the announcement.

"The signs that U.S. exceptionalism is on the wane continue to increase" and the dollar has "fallen out of favour" amid the uncertainty, with the perceived inflationary impact of tariffs no longer enough to support it, said Kieran Williams, head of Asia FX at InTouch Capital Markets.

 
 
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