Dollar trades at historic high against dong

By Minh Hieu   August 12, 2025 | 07:30 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Dollar trades at historic high against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar stood at an all-time high against the Vietnamese dong Wednesday morning while it slid against some major peers.

Vietcombank maintained its exchange rate at VND26,450, a historic peak reached on Tuesday afternoon.

On the black market, the greenback inched up 0.03% to around VND26,505.

The State Bank of Vietnam raised its reference rate by 0.02% to VND25,247.

Globally, the dollar weakened on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency, Reuters reported.

Against the yen, the dollar was last 0.05% lower at 147.76, while the euro was steady at $1.1676, having risen 0.5% in the previous session. Elsewhere, sterling gained 0.03% to $1.3504.

The dollar index last stood at 98.08, after falling roughly 0.5% on Tuesday.

"The July CPI report showed less evidence of tariff pass-through to consumer prices...(but) I think a September rate cut is less than certain, probably not as certain as current market pricing," said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

"As the last payroll shows, one report can be sufficient to move the policy debate to one side or another. So I think we still have to wait until the remaining data to print before making a strong case about a rate cut or an on hold decision."

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