An employee counts U.S. banknotes at a bank in Hanoi. Photo by Read/Giang Huy
The U.S. dollar rose against the Vietnamese dong Friday morning while heading for a large weekly gain against major peers.
Vietcombank sold the greenback at VND26,387, a 0.02% increase from Thursday. On the black market, the currency rose 0.3% to around VND26,595.
The State Bank of Vietnam raised its reference rate by 0.02% to VND25,131.
Globally, the dollar firmed on Friday and was set for its largest weekly gain in more than two months, as rising energy prices and prolonged disruptions to shipping stoked inflationary pressures, boosting bets on a Federal Reserve rate hike this year, Reuters reported.
The dollar index was on the front foot, rising to a two-week high of 98.98 against a basket of currencies.
It was set to rise more than 1% for the week, capping off its sharpest increase since early March.
The greenback’s strength pushed the yen to 158.45 in early Asia trade and was on track to lose more than 1% for the week. The euro fell 0.04% to $1.1662, also headed for a weekly fall of over 1%.
In other currencies, sterling fell to a one-month low of $1.3385, having slid 0.9% in the previous session. The Australian dollar edged away from its recent four-year peak on the back of the greenback’s strength and traded 0.04% lower at $0.7217. The New Zealand dollar eased 0.14% to $0.5903.
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