An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar fell against the Vietnamese dong Friday morning while trading near its lowest in three and a half years against the euro and sterling.
Vietcombank sold the greenback at VND26,270, a 0.08% dip from Thursday. The currency gained 0.04% to around VND26,480 on the black market.
The State Bank of Vietnam reduced its reference rate by 0.02% to VND25,048.
Globally, the dollar drifted on Friday, hovering near its lowest level in 3-1/2 years against the euro and sterling, as traders wagered on deeper U.S. rate cuts while awaiting trade deals ahead of a July deadline for President Donald Trump’s tariffs, Reuters reported.
The euro was steady at $1.1693 in early trading after hitting $1.1745 in the previous session, its highest since September 2021. Sterling last fetched $1.3733, just below the October 2021 top of $1.37701 touched on Thursday.
The dollar index, which measures the U.S. unit versus six other currencies, was lingering near its lowest since March 2022 at 97.378, on course for a 2% decline in June, its sixth straight month in the red.
The index has dropped more than 10% this year as Trump’s tariffs stoke U.S. growth worries, leading investors to look for alternatives.
The yen was a bit weaker at 144.73 per dollar, while the Swiss franc was last at 0.8013 per dollar, perched near its strongest level in a decade.
