Dollar Appreciates Against Vietnamese Dong

Vietcombank recorded an increase in the selling price of the greenback, marking VND25,477, which is a 0.02% rise from the previous day. Meanwhile, at unofficial exchange points, the dollar remained stable at VND25,650.

State Bank of Vietnam Adjusts Reference Rate

The State Bank of Vietnam has adjusted its reference rate downward by 0.02% to VND24,264. Since the beginning of the year, the dollar has experienced a 4.33% increase against the dong.

Global Dollar Trends

On a global scale, the dollar reached a 2 1/2-week high against major currencies on Friday, poised for its best week in a month. This surge is attributed to expectations that the Federal Reserve will cut interest rates next week but adopt a cautious approach to further reductions, as reported by Reuters.

The dollar index, which gauges the currency against the euro, yen, and three other rivals, climbed to 107.05, its highest since November 26. For the week, the index has risen by over 1%.

The dollar strengthened by 0.19% to 152.935 yen, touching a high not seen since November 27 at 152.965. This marks a 1.9% gain on the yen for the week, the best performance since late September.

The euro remained nearly unchanged at $1.0464 after a 0.27% decline overnight, extending its losing streak to five days. It has fallen close to 1% this week. Sterling saw a slight dip to $1.2665.

The European Central Bank cut rates by 25 basis points on Thursday and left the possibility of further easing open as inflation approaches its target and the economy remains sluggish.