Dollar rises against dong

By Minh Hieu March 5, 2026 | 08:45 pm PT

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 as it was set to see the biggest weekly gain in over a year against major peers.

Vietcombank sold the greenback at VND26,309, up 0.008% from Thursday. On the black market, the currency rose 0.04% to VND26,864.

The State Bank of Vietnam hiked its reference rate by 0.02% to VND25,052.

Globally, the U.S. dollar held broadly steady in early Asian trade on Friday and was poised for its steepest weekly gain in more than a year as the escalating conflict in the Middle East drove demand for safe-haven assets, Reuters reported.

The dollar index, which measures the greenback against a basket of currencies, was trading a touch lower by 0.06% at 99.00, still on course for a 1.4% gain this week that would be the most since November 2024.

The euro was little changed at $1.1612, while the yen tacked on 0.06% to 157.5 per dollar. Sterling was almost steady, up just 0.04% at $1.3361.

The Australian dollar strengthened 0.16% versus the greenback to $0.7017. The kiwi rose 0.15% to $0.5903.

The greenback was one of a handful of winners in a volatile few sessions that have dragged stocks, bonds and, at times, even safe-haven precious metals lower.

The spike in energy prices from the Middle East war has stoked fears of a resurgence in inflation, with overnight ‌index swaps (OIS) ⁠showing shifts in rate outlooks for major central banks.