Vietnam's Currency Market Sees Dollar Uptick

Vietcombank reported a slight increase in the dollar's value against the Vietnamese dong, selling the dollar at VND25,475, which represents a 0.007% rise from the previous day. Meanwhile, the greenback remained stable at around VND25,730 on the black market.

The State Bank of Vietnam's reference rate also saw a minor increase, ticking up by 0.008% to VND24,262. This marks a 4.32% rise in the dollar's value against the dong since the beginning of the year.

Global Currency Market Dynamics

Globally, the U.S. dollar recovered from a three-week low against the yen and maintained its position against other major currencies as traders speculated on the likelihood of a Federal Reserve interest-rate cut this month, according to Reuters.

The U.S. dollar index, which measures the currency against six top counterparts including the yen and the euro, increased by 0.07% to 106.39. The euro remained relatively unchanged at $1.0506, influenced by the ongoing political crisis in France. Sterling was steady at $1.26645.

The dollar gained 0.18% against the yen, rising to 149.90 yen, continuing its recovery after dipping to 148.65 yen in the previous session, marking its lowest point since October 11.

South Korea's won stabilized following a significant drop to a two-year low on Tuesday, which was partially recovered after President Yoon Suk Yeol's unexpected declaration and subsequent reversal of martial law.

The won was little changed at 1,413.80 per dollar, having plunged as low as 1,443.40 per dollar for the first time since October 2022 in the previous session.