An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong and held firm against major peers on Friday morning.
Vietcombank sold the dollar at VND25,538, up 0.05% from Thursday.
The greenback slid 0.1% to VND25,760 at unofficial exchange points.
The State Bank of Vietnam hiked its reference rate by 0.05% to VND24,322.
Since the start of the year, the dollar has risen against the dong by 4.58%.
Globally, the dollar was steady Friday, keeping the yen rooted near five-month lows in thin year-end trading as investors looked ahead to 2025, when the Federal Reserve is expected to be measured in its interest rate cuts, Reuters reported.
The dollar index, which measures the U.S. unit against six other large peers, was at 108.11, not far from the two year high it touched last week.
The yen was little changed at 157.80 per dollar, taking its losses for the year against the dollar to over 10% in 2024, its fourth straight year of decline.
The Indian rupee weakened to an all-time low, hurt by persistently strong dollar demand in the non-deliverable forwards (NDF) market, while likely intervention by the Reserve Bank of India (RBI) capped the currency’s losses.
The rupee declined to 85.3950 to the dollar, eclipsing its previous all-time low of 85.2825 hit on Thursday. The currency was last quoted at 85.39.
