Vietcombank Adjusts Dollar Selling Rate

Vietcombank has increased its selling price for the US dollar to VND26,080, marking a 0.31% rise from the previous Monday. This adjustment reflects the ongoing volatility in the currency market.

State Bank of Vietnam's Reference Rate Hike

The State Bank of Vietnam has slightly raised its reference rate by 0.02% to VND24,891, signaling cautious adjustments in response to global currency trends.

Black Market Dollar Sees Decline

Contrary to official rates, the dollar experienced a 0.38% drop to VND26,130 on the black market, highlighting the diverse dynamics at play in Vietnam's currency exchange landscape.

Year-to-Dollar Strength Against Dong

Since the beginning of the year, the dollar has appreciated by 2.07% against the dong, underscoring the greenback's growing dominance in the region.

Global Dollar Steady but Vulnerable

On the global stage, the dollar maintained stability on Tuesday but lingered near a three-year low against the euro and a six-month trough against the yen. Reuters reports that investor confusion over fluctuating policies is contributing to a gradual shift away from dollar assets.

Expert Insight on Dollar's Safe-Haven Appeal

Kieran Williams, head of Asia FX at InTouch Capital Markets, notes that policy uncertainties and diminishing investor confidence are driving a slow but steady migration from dollar-denominated assets. "The recent easing of U.S. tariffs has somewhat alleviated market fears, reducing the dollar's short-term appeal as a safe haven," Williams explained.