Dollar rises against dong on black market

The greenback increased by 0.12% to VND25,970 at unofficial exchange points. Vietcombank sold the dollar at VND25,740, unchanged from Thursday.

The State Bank of Vietnam raised its reference rate by 0.02% to VND24,813.

Globally, the U.S. dollar was on the front foot against major peers on Friday after its best single-day performance for three weeks with the Federal Reserve indicating no rush to cut interest rates, Reuters reported.

The dollar index measure against a basket of six counterparts was steady at 103.81, after climbing 0.36% on Thursday.

The index plumped a five-month low at 103.19 this week following a steady decline from the highest since late 2022 at 110.17 on Jan. 13 as hopes for expansive policies under Trump gave way to anxiety that the global trade war he started could trigger a U.S. recession.

Fed policymakers held rates steady on Wednesday and signaled two quarter-point cuts for later this year, the same median forecast as three months ago.

The euro, which has by far the heaviest weighting in the dollar index, was little changed at $1.0854 after dropping 0.45% on Thursday. Sterling eased 0.06% to $1.2961.

The dollar added 0.07% to 148.88 yen, and was steady against its Canadian counterpart at C$1.4321.