An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar weakened against the Vietnamese dong on Monday morning, following a broader decline against major global currencies.
Vietcombank sold the greenback at VND26,170, a 0.04% drop from the weekend. The dollar gained 0.15% to VND26,530 on the black market.
The State Bank of Vietnam reduced its reference rate by 0.05% to VND24,944.
Globally, the dollar was losing ground again on Monday amid speculation that some Asian countries were prepared to engineer revaluations to win U.S. trade concessions, Reuters reported.
The euro edged up 0.3% to $1.1333, and away from last week’s low at $1.1266, while the dollar index dipped 0.2% to 99.717. The dollar eased 0.4% to 144.21 yen, and away from Friday’s top around 145.91.
China’s yuan duly hit its highest in almost six months at 7.1980 per dollar as investors wagered Beijing might let its currency strengthen as part of Sino-U.S. trade talks, though negotiations still seemed distant.
While the Chinese Commerce Ministry has indicated Beijing was evaluating an offer from Washington to hold talks over Trump’s 145% tariffs, the two sides still seem far apart.
The Fed meets on Wednesday and is widely expected to leave rates steady following a solid March payrolls report.
