Dollar slips against dong

By Minh Hieu   May 29, 2025 | 08:27 pm PT
Dollar slips against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar weakened against the Vietnamese dong as it headed for its fifth monthly drop against major currencies on Friday morning.

Vietcombank sold the currency at VND26,170, down 0.11% from Thursday. On the black market, the greenback gained 0.08% to around VND26,380.

The State Bank of Vietnam hiked its reference rate by 0.06% to VND24,978.

Globally, the U.S. dollar softened on Friday, heading for its fifth-straight monthly decline as traders braced for further bouts of uncertainty around trade and fiscal health, while investors awaited a pivotal inflation report later in the day, Reuters reported.

The dollar index, which tracks the U.S. unit against a basket of six other currencies, was muted on Friday. The index was set for a decline of 0.4% in May, on course for its fifth month in the red.

The euro was slightly firmer at $1.1378, while the Swiss franc was also stronger at 0.8216 per dollar.

The Japanese yen firmed 0.3% to 143.73 per dollar after data showed underlying inflation in Tokyo hit a more than two-year high in May.

The greenback had a choppy week, ending lower in the previous session after a federal court temporarily reinstated the most sweeping of President Donald Trump's tariffs, a day after a separate trade court had ordered an immediate block on tariffs.

"The (court) decision marks the beginning of a new source of uncertainty rather than the total closure of another," said Kyle Rodda, senior financial market analyst at Capital.com, noting the mood in the markets was cautious.

 
 
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