Dollar strengthens against dong

By Minh Hieu March 2, 2025 | 08:31 pm PT

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

The U.S. dollar rose against the Vietnamese dong Monday morning as it weakened slightly against major currencies.

Vietcombank sold the greenback at VND25,780, up 0.19% from the weekend. The greenback slid 0.12% to VND25,800 on the black market.

The State Bank of Vietnam hiked its reference rate by 0.13% to VND24,758.

Globally, the euro rebounded from a 2-1/2-week low against the U.S. dollar on Monday and sterling also advanced with Europe taking the lead in a renewed push for peace in Ukraine, Reuters reported.

The U.S. dollar index - which measures the currency against the euro, sterling, yen, Canadian dollar and two other major rivals - eased 0.1% to 107.21.

The Canadian dollar and Mexico peso rose after U.S. Commerce Secretary Howard Lutnick suggested tariffs set to take effect on Tuesday may not be the full 25%.

The euro climbed 0.4% to $1.0415 early in the Asian morning, pulling away from Friday's low of $1.0360. Sterling gained 0.2% to $1.2602.

The safe-haven yen was 0.1% weaker at 150.52 per dollar. The Canadian dollar and Mexican peso each gained about 0.2% to be at C$1.4439 and 20.4891 pesos per U.S. dollar.