Dollar surges against dong on black market

The greenback jumped 0.27% to VND25,910 at unofficial exchange points. Vietcombank sold the dollar at VND25,710, the same rate as Tuesday.

The State Bank of Vietnam reduced its reference rate by 0.01% to VND24,790.

Globally, the yen swung between losses and gains on Wednesday after the Bank of Japan (BOJ) kept interest rates unchanged as widely expected, while the dollar struggled to regain some lost ground ahead of the Federal Reserve's policy decision later in the day, Reuters reported.

The yen fell in the immediate aftermath of the decision, though moves in the currency became slightly more volatile shortly after. The yen was last little changed at 149.31 per dollar.

The euro did scale a five-month high of $1.0955 in the previous session and last traded near that level at $1.0942. Investors were optimistic the move in Germany could revive economic growth and scale up military spending for a new era of European collective defense.

Sterling last bought $1.3001, standing just a whisker away from its four-month high of $1.3010 hit in the previous session.

Against a basket of currencies, the dollar was little changed at 103.27, languishing near Tuesday's five-month low of 103.19.

The dollar has fallen nearly 4% for the month, pressured by Trump's erratic tariff moves and as fears of a recession in the world's largest economy mount.