Dollar up against dong on black market
The U.S. dollar rose against the Vietnamese dong on the black market Monday morning as it rose to a 17-month high against the euro.
The U.S. dollar appreciated against the Vietnamese dong on the black market, rising to approximately VND26,030. The currency was strong at VND26,170 at Vietcombank, a local lender. The State Bank of Vietnam raised its reference rate by 0.02% to VND25,643. Meanwhile, the euro experienced a sharp decline to a 17-month low as fiscal concerns in France, coupled with a sharp drop in bond markets, raised concerns of contagion risks in the region, according to Reuters.
The euro fell to as low as $1.1161, its weakest level since May 2025, marking four consecutive weekly declines. Meanwhile, the British pound slipped by 0.24% to $1.32064, and the Japanese yen traded at 157.92 per dollar. Overall, the dollar index, which gauges the U.S. currency against six major currencies, rose by 0.47% to 102.37.
Market analysts attributed the dollar's strength to a combination of rising Treasury yields, enhancing the appeal of U.S. assets, and a widespread global sell-off of bonds, driving demand for safe-haven currencies like the dollar.
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