An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by Read/Thanh Tung
The U.S. dollar weakened slightly against the Vietnamese dong but inched up against major currencies on Friday morning.
Vietcombank sold the dollar at VND25,491, down 0.02% from Thursday. The greenback slid 0.74% to VND25,800 on the black market.
The State Bank of Vietnam lowered its reference rate by 0.02% to VND24,278.
The dollar has increased by 4.39% against the dong in the year to date.
Globally, the dollar took a breather on Friday, on track to cap off a wild week with a slight gain as markets weighed the impact of Donald Trump’s impending return to the White House and what that would mean for the U.S. economy and its rate outlook, Reuters reported.
The dollar index, which measures the currency against six major peers, ticked up slightly to 104.53, but that followed a 0.7% drop on Thursday, its biggest since Aug. 23. On Wednesday, it soared 1.53%, the most in over two years.
That helped lift sterling back toward the $1.30 mark, while the yen similarly got some respite and hovered closer to the 153 per dollar level.
The euro fell 0.07% to $1.0795 and was headed for a 0.35% weekly fall, weighed down by a resurgent dollar and amid a political crisis in Germany, where the already awkward coalition led by Chancellor Olaf Scholz collapsed late on Wednesday.
The 1-month non-deliverable forward indicated the rupee will open marginally higher than its close of 84.3725 per U.S. dollar in the previous session when the currency also hit a lifetime low of 84.3775.
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