An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar rose against the Vietnamese dong Friday morning while heading for a weekly drop against major peers.
Vietcombank sold the dollar at VND25,558, up 0.04% from Thursday. The greenback slid 0.35% to VND25,630 on the black market.
The State Bank of Vietnam raised its reference rate by 0.03% to VND24,341.
Globally, the yen was poised on Friday for its strongest weekly performance in over a month as expectations grow that the Bank of Japan will raise rates next week, putting the dollar on the back foot ahead of Donald Trump’s return to the White House, Reuters reported.
The yen has climbed 1.5% against the dollar this week, its strongest weekly run since late November. It was last a tad weaker at 155.40 per dollar on Friday but still close to the one-month high of 155.10 it touched on Thursday.
The euro was steady at $1.03065 and sterling was little changed at $1.22425. That left the dollar index , which measures the U.S. currency against six other units, at 108.94, inching away from a high of more than two years touched at the start of the week.
The index is set for a 0.6% drop in the week, which would snap a six-week winning streak, after traders started pricing in the prospect of two rate cuts this year in the wake of an easing U.S. core inflation data on Wednesday. The Federal Reserve last month projected two rates in 2025.
