The U.S. dollar experienced a surge against the Vietnamese dong on Thursday morning, while oscillating around its apex value against significant international currencies this year.
Vietcombank, a prominent banking institution, reported a minor increase of 0.01% in the value of the dollar, selling it at a rate of VND26,314.
Contrarily, the U.S. dollar dipped slightly by 0.18% to VND27,910 in the unofficial currency exchange market, also known as the black market.
Thursday witnessed the U.S. dollar, a popular refuge during periods of financial instability, hovering near its most robust position for the year. This trend was driven by the rising oil prices, which are predicted to escalate inflation and compel central banks around the world to espouse more assertive monetary policies.
In early Asian trading, the euro experienced a slight decline of 0.1% against the dollar, going down to $1.1549. This brought the euro close to its lowest value since November of the previous year.
Similarly, the Japanese yen saw a momentary fall, surpassing the 159-per-dollar mark. It depreciated as much as 0.2%, reaching 159.23. This puts the yen on the brink of its most diminished value since July 2024.
The Australian dollar and the New Zealand dollar also observed declines, both slipping by 0.1%, with the former valued at $0.7148 and the latter at $0.5907.
What factors influenced the rise in the value of the U.S. dollar?
The uptick in the value of the U.S. dollar can be attributed to the increasing oil prices, which are expected to instigate inflation and cause global central banks to adopt a more aggressive policy stance.
How did the rise in the U.S dollar affect other major international currencies?
The rise of the U.S dollar resulted in a slight depreciation of several international currencies such as the Vietnamese dong, the euro, the Japanese yen, the Australian dollar, and the New Zealand dollar.
What was the selling rate of the U.S. dollar in the black market?
In the black market, the U.S. dollar saw a nominal decline, with its rate recorded at VND27,910.
