An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar strengthened against the Vietnamese dong Tuesday morning and was poised for its best month since July against major peers.
Vietcombank sold the greenback at VND26,357, a 0.008% uptick from Monday. On the black market, the currency went down 0.28% to around VND27,112.
The State Bank of Vietnam hiked its reference rate by 0.008% to VND25,102.
Globally, the dollar headed for its biggest monthly gain since July on Tuesday and stands out as the strongest so-called safe asset as war in the Mideast has set oil prices surging and raised the risk of global recession, Reuters reported.
The U.S. dollar index touched its highest since last May at 100.61 and is up 2.9% through March, its sharpest monthly rise since last July.
Having touched its weakest since July 2024 a day earlier, the yen traded at 159.81 in the Asia morning on Tuesday, down about 2.4% on the month owing to Japan’s import exposure to skyrocketing energy prices.
The euro slipped 0.3% overnight, and is headed for a monthly drop of about 3%.
The Aussie hit a two-month low of $0.6834 overnight and traded at $0.6844 in the Asia morning. The New Zealand dollar has also crumbled and hit a four-month trough of 57 cents, and last traded nearby at around $0.5716.
South Korea’s won hit its weakest since 2009. The dollar is up nearly 4% for the month on the Swiss franc at 0.80 francs.
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