A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters
The U.S. dollar rose against the Vietnamese dong Tuesday morning, hitting the highest since April 9.
Vietcombank sold the greenback at VND26,080, up 0.31% from Monday.
The State Bank of Vietnam hiked its reference rate by 0.02% to VND24,891.
On the black market, the dollar declined by 0.38% to VND26,130.
The dollar has gained over the dong by 2.07% since the beginning of the year.
Globally the dollar was steady on Tuesday but stayed close to the three-year low against the euro and a six-month trough against the yen it hit last week as investors struggled to make sense of the back-and-forth change, Reuters reported.
The dollar was 0.27% higher at 143.53 yen but remained close to the six month low of 142.05 it touched on Friday. The euro eased 0.22% to $1.1324 just below the three-year high of $1.1474 hit last week.
After slumping to a ten-year low against the Swiss franc last week, the dollar was 0.3% higher in Asian hours. The dollar is down nearly 8% against the Swiss franc this month, set for its biggest monthly drop since December 2008.
Kieran Williams, head of Asia FX at InTouch Capital Markets, said the policy confusion and erosion in investor confidence are fueling a slow but steady rotation out of dollar assets.
“The recent backpedaling on U.S. tariffs has eased some of the acute market anxiety, softening the dollar’s safe-haven appeal in the near term.”
