Dollar's Rise Against the Dong

Vietcombank sold the greenback at VND25,540, marking a 0.08% increase from Thursday. Meanwhile, the State Bank of Vietnam maintained its reference rate at VND24,324. In unofficial exchange points, the dollar surged by 0.12% to VND25,750.

Globally, the dollar continued its strong performance, reaching a two-year high due to a hawkish U.S. rate outlook. According to Reuters, the yen struggled as it weakened to a new low. The greenback rose to a two-year peak against a basket of currencies, reaching 108.53, and was set to end the week with a 1.5% gain, supported by expectations of higher U.S. rates for an extended period. Markets are now anticipating less than 40 basis points of cuts for 2025.