Dollar slips against dong

By Minh Hieu August 28, 2025 | 08:48 pm PT

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters

The U.S. dollar fell against the Vietnamese dong Friday morning as it headed for a monthly drop against major peers.

Vietcombank sold the currency at VND26,502, a 0.1% dip from Thursday. On the black market, the greenback rose 0.13% to around VND26,755.

The State Bank of Vietnam slashed its reference rate by 0.11% to VND25,240.

Globally, the dollar wobbled on Friday, poised for a 2% drop in August against major currencies on rising odds of the Federal Reserve cutting interest rates next month while worries about the threats to the U.S. central bank's independence linger, Reuters reported.

President Donald Trump's campaign to exert more influence over monetary policy, including attempts to fire Lisa Cook, one of the Fed's governors, has weighed on the dollar. Cook filed a lawsuit claiming Trump has no power to remove her from office.

Currency markets started Friday tentatively, with the euro little changed at $1.1675, on course for a 2% gain in August.

Sterling last bought $1.3509 and the Japanese yen fetched 146.97 per dollar. The Australian dollar was steady at $0.6533, set for a 1.6% gain in the month.

The dollar index, which measures the U.S. currency against six major peers, was at 97.917, on course for a 2% decline in the month. The index is down nearly 10% this year as erratic U.S. trade policies drove investors towards alternative assets.