U.S. one dollar banknotes are seen in this illustration taken Feb. 8, 2021. Photo by Reuters
The U.S. dollar Thursday rose against the Vietnamese dong for the third day in a row as global rates shot up.
Vietcombank sold the greenback at VND26,210, up 0.23% to VND26,210.
The State Bank of Vietnam hiked its reference rate by 0.06% to VND24,962.
The dollar went up 0.08% to VND26,360 at unofficial exchange points.
Globally the dollar rallied on Thursday in knee-jerk reaction to a court blocking President Donald Trump from imposing his import tariffs on other countries, providing some relief for the currency that has struggled this year due to trade uncertainty.
“It’s almost impossible to know if the tariffs will be completely unwound by this. But in the hypothetical situation that they are, it’s natural to see dollar appreciation,” said Yunosuke Ikeda, head of macro research at Nomura in Tokyo.
“Trump’s tariffs will lead to stagflation pressure on the U.S. economy, so reversing those tariffs would be a positive for the dollar.”
