Vietcombank Adjusts Rates Amid Currency Fluctuations

In a recent financial update, Vietcombank has increased its rate by 0.04% to VND25,730, signaling a shift in the currency market dynamics. Concurrently, the State Bank of Vietnam has slightly decreased its reference rate by 0.004% to VND24,793, indicating a cautious approach to the ongoing economic adjustments.

Black Market Sees Dollar's Uptick

On the black market, the U.S. dollar experienced a 0.16% increase, reaching VND25,840. This adjustment reflects the dollar's overall 0.70% rise against the dong since the beginning of the year, highlighting a persistent trend in the currency's valuation.

Global Context: Dollar's Position Against Major Currencies

Globally, the U.S. dollar remains near a five-month low against the euro and other major currencies. This situation is largely due to investors' concerns over the potential economic impacts of escalating global trade tensions. The dollar index, which measures the currency against six key rivals, has seen a significant drop from its peak in mid-January, struggling to recover from its recent lows.

Despite a modest rebound in February's retail sales data, the U.S. currency has not gained substantial support, further complicating its recovery trajectory. Meanwhile, the euro maintains a strong position, hovering around $1.0919, as markets anticipate Germany's stimulus package vote.