Dollar gains over dong
The U.S. dollar strengthened against the Vietnamese dong Friday morning as it headed for a third weekly gain against major rivals.
The US dollar gained against the Vietnamese dong, moving from VND26,190 on Thursday to VND26,190, a 0.04% increase, according to Vietnamcombank. On the black market, the dong weakened by 0.54% to approximately VND25,960. The State Bank of Vietnam raised its reference rate by 0.05% to VND25,636.
Globally, the US dollar witnessed its third consecutive week of gains on Friday, reaching a 17-month high. This surge was driven by a bond market rout, which pushed borrowing costs across the globe to multi-decade peaks due to inflationary concerns, primarily fueled by higher oil prices, Reuters reported.
The dollar index, which gauges the USD against six major currencies, stood at 102.08, marking a 1% gain this week, its third weekly gain in a row. This streak was last seen in May 2025. In contrast, the euro weakened to $1.1237, hovering near its lowest point since May 2025, as worries about France's fiscal health took hold. Meanwhile, the Japanese yen remained steady at 158 per US dollar.
The British pound was at $1.3187, while the Australian dollar slipped 0.18% to $0.6918, both nearing their three-month lows. Much of the dollar's recent strength has been at the expense of the euro, as rising political risk in Europe and the ongoing conflict in the Middle East have dampened sentiment for the single currency.
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