The U.S. dollar rose against the Vietnamese dong on the black market on Monday morning.
On unofficial exchange platforms, the dollar was selling for VND26,380, marking a slight 0.2% increase since the weekend. Meanwhile, Vietcombank set its rate at VND26,220, while the State Bank of Vietnam maintained a reference rate of VND24,992.
Globally, the dollar remained stable against major currencies as Monday unfolded, blending enthusiasm from a strong U.S. employment report with a cautious atmosphere ahead of crucial U.S.-China trade talks in London later in the day, according to Reuters.
The dollar index, which measures the currency’s performance against six others, stood firm at 99.169. In early trading in Asia, the yield on 10-year Treasury notes remained unchanged following a significant rise of over 10 basis points on Friday.
Against the yen, the dollar dipped by 0.3% to 144.39, slightly offsetting its 0.9% gain from Friday. The euro, however, climbed 0.2% to reach $1.1422.
Watchful eyes will be on the impending inflation report from the U.S. for May, crucial for investors and Federal Reserve policymakers, as they seek to assess the economic toll of trade-restrictive policies.
“May will be the first month reflecting the impact of Trump’s 10% universal tariff on imports outside of the USMCA,” analysts at ANZ Bank noted. “The Fed will likely await several months of inflation data to fully gauge the tariff’s effects, particularly its durability.”
What was the dollar’s rate against the Vietnamese dong on the black market?
The dollar reached a rate of VND26,380, reflecting a 0.2% gain compared to the weekend.
How did the dollar perform against other international currencies?
Globally, the dollar held steady amidst mixed sentiments, with a slight dip against the yen but a rise against the euro.
Why is the upcoming inflation report significant?
This report is anticipated to shed light on the economic impact of recently instated trade tariffs, which could influence Federal Reserve policy decisions moving forward.
