Sharp Decline in Dollar Value

Vietcombank has reported a significant drop in the dollar's value, selling it at VND26,000, marking a 0.69% decrease from the previous record of VND26,182. Meanwhile, the black market saw a slight increase of 0.11%, with the dollar reaching VND26,260.

Central Bank Adjusts Reference Rate

The State Bank of Vietnam responded by adjusting its reference rate upwards by 0.11% to VND24,964, signaling attempts to stabilize the market.

Global Market Reactions

Despite a surge on Wall Street following President Donald Trump's announcement to temporarily reduce tariffs, U.S. stock futures and the dollar did not join the relief rally. The dollar experienced declines against the yen and Swiss franc, underscoring the market's uncertainty about the future.

Analysts weigh in: "The U.S. dollar's valuation extremes against some currencies seem increasingly unjustified in the medium term," noted ANZ analysts, pointing to a potential erosion of the U.S.'s international reputation.