Dollar slips against dong

By Minh Hieu June 29, 2025 | 09:09 pm PT

An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The U.S. dollar dipped against the Vietnamese dong Monday morning as it hovered near a four-year low against the euro.

Vietcombank sold the greenback at VND26,250, down 0.08% from the weekend. The currency rose 0.04% to VND26,480 on the black market.

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

Globally, the dollar wallowed near its lowest in nearly four years against the euro on Monday as market optimism over U.S. trade deals bolstered bets for earlier Federal Reserve interest rate cuts, Reuters reported.

The greenback also languished near a four-year low versus sterling and a more than decade trough to the Swiss franc after Washington and China moved closer to a tariff agreement.

The dollar index - which measures the U.S. currency against six major counterparts, including the euro, sterling and franc - edged up 0.1% to 97.276, but was still not far from the more than three-year low of 96.933 late last week.

The euro was slightly weaker at $1.1716, just off the highest level since September 2021 reached on Friday at $1.1754.

Sterling was little changed at $1.3709, hovering close to Thursday's peak of $1.37701, a level not previously seen since October 2021.

The dollar was steady at 0.7988 Swiss franc, after dipping to 0.7955 franc on Friday for the first time since January 2015. The U.S. currency was flat at 144.58 yen.