Dollar tiptoes up against dong on black market

By Minh Hieu July 22, 2025 | 08:59 pm PT

A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters

The U.S. dollar increased slightly against the Vietnamese dong on the black market Wednesday morning as it held steady against major currencies.

At unofficial exchange points, the greenback rose 0.04% from Tuesday to VND26,460. Vietcombank kept the currency stable at VND26,320.

The State Bank of Vietnam raised its reference rate by 0.02% to VND25,191.

Globally, the dollar stayed weak on Wednesday, having lost ground overnight, after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, Reuters reported.

The U.S. currency has been one of the biggest losers since Trump announced sweeping tariffs on trading partners on April 2, only to delay and suspend most of the duties as his administration sought bilateral trade deals.

The dollar traded at 146.90 yen, a 0.2% gain after having lost 0.5% in the previous session. The euro fell 0.2% to $1.1736. Sterling was 0.1% off at $1.35180.

The dollar index, which tracks the greenback against major peers, was little changed at 97.48 following a three-day decline. The gauge has lost 6.6% since Trump's "Liberation Day" tariff announcement.

"Dollar softness seems to be our opening proposition," said Michael McCarthy, Market Strategist at Moomoo Australia.

"Clearly there's some dovishness infecting the market at the moment around the U.S. dollar and we're seeing that in the bond markets too."