Dollar Appreciates Against Vietnamese Dong

Vietcombank reported a slight increase in the dollar's value against the Vietnamese Dong, selling the dollar at VND25,471, a 0.02% rise from the previous day. This development comes as the State Bank of Vietnam raised its reference rate by a similar margin, up to VND24,259.

Meanwhile, the greenback remained steady on the black market at VND25,650. This stability contrasts with global currency markets where the yuan faced renewed pressure against the dollar. According to Reuters, the yuan weakened by 0.03% to 7.2637 against the dollar, trading in a range of 7.2565 to 7.2677.

Global Market Dynamics

The yuan's decline followed a Reuters report suggesting that China might allow the yuan to weaken in 2025 in anticipation of higher U.S. tariffs under a potential second term for Donald Trump. This strategic move is seen as a measure to mitigate the impact of trade tariffs on China's economy.