Dollar rises slightly on black market

The greenback is sold at VND25,590 on the black market, up 0.16% from Sunday.

Vietcombank sold the dollar at VND24,920 , down 0.12%.

The State Bank of Vietnam (SBV) kept its reference rate steady at VND24,015.

The dollar has increased against the dong by 2.05% since the beginning of the year.

Globally, the dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though the threat of currency intervention from Japanese authorities prevented the greenback from heading further north, Reuters reported.

The yen last stood at 151.25 per dollar, having bottomed at a four-month trough of 151.86 last week that left it within striking distance of a 32-year low near 152 per dollar hit in 2022.

Bets for a June rate cut by the European Central Bank and the Bank of England have substantially risen after the Swiss National Bank became the first major central bank to do so last week.

That has kept pressure on their respective currencies, with the euro last down 0.03% to $1.08045, languishing near a three-week low.

The dollar index was last 0.03% higher at 104.46, having clocked a weekly gain of nearly 1% last week.