The U.S. dollar continued its upward trend against the Vietnamese dong on Thursday, marking the third consecutive day of gains as global rates surged.
At Vietcombank, the dollar was listed at VND 26,210, reflecting a 0.23% increase. Meanwhile, the State Bank of Vietnam adjusted its reference rate up by 0.06% to VND 24,962. In parallel, at unofficial exchange points, the dollar climbed 0.08% to VND 26,360.
This rally comes in the wake of a court ruling that blocked former President Donald Trump from implementing import tariffs on various countries, a decision that created ripples in the currency market. Analysts suggest that this unexpected turn could provide the beleaguered dollar with some much-needed relief amid ongoing trade uncertainties.
“It’s difficult to predict whether the tariffs will be fully reversed, but if they are, we can certainly expect to see the dollar appreciate,” noted Yunosuke Ikeda, head of macro research at Nomura in Tokyo. He further added that the existing tariffs pose stagflation risks to the U.S. economy, so their potential reversal would bode well for the dollar’s strength.
In a world where currency fluctuations can feel as unpredictable as a game of chance, one can’t help but wonder what other surprises lie in the global financial arena.
Why is the U.S. dollar rising against the Vietnamese dong?
The U.S. dollar has been appreciating due to a surge in global rates and a recent court decision blocking tariffs proposed by Donald Trump, resulting in a more favorable outlook for the dollar.
What are the new exchange rates for the dollar?
As of Thursday, the dollar was listed at VND 26,210 at Vietcombank and VND 26,360 at unofficial exchange points.
What impact do tariffs have on the dollar’s strength?
Trump’s tariffs have added stagflation pressures to the U.S. economy. A potential reversal of these tariffs could lead to an appreciation of the dollar.
