Commercial banks in Vietnam lowered US dollar exchange rates, with Vietcombank reducing its rate by 10 dongs to trade between 25 760 and 25 790 dongs for buying and 26 170 dongs for selling. The downward adjustments across major domestic lenders contrast with a retreating US dollar index.
Vietcombank’s latest adjustment follows similar cuts across the banking sector. ACB lowered its rate by 20 dongs, bringing its buying range to 25 760–25 790 dongs and its selling rate to 26 150 dongs. Vietinbank implemented a deeper cut of 130 dongs, dropping its buying rate to 25 608 dongs and its selling rate to 26 148 dongs. Compared to early September, domestic bank exchange rates for the greenback have declined by 90 to 190 dongs per dollar.
Foreign Currencies Rebound Against the Dong
While the US dollar softened domestically, other major foreign currencies recovered ground after several sessions of declines. Vietcombank adjusted its euro exchange rate upward by 40 dongs, establishing a buying range of 28 831 to 29 122 dongs and a selling rate of 30 351 dongs. The pound sterling gained 50 dongs to trade between 33 506 and 33 845 dongs for buying and 34 929 dongs for selling. The Australian dollar also rose by 50 dongs, moving to a buying range of 17 791 to 17 971 dongs and a selling rate of 18 546 dongs.
Global USD and Commodity Movements
On international markets, the US dollar retreated following four consecutive sessions of gains. The USD-Index declined by 0.25 points to close at 101.04, pressured by falling oil prices. Despite this daily drop, the dollar remains on track for its second weekly gain, supported by growing expectations of further interest rate hikes. Meanwhile, the Japanese yen strengthened after officials in Tokyo and Washington reaffirmed the positions that justified their joint intervention in the foreign exchange market.
Global crude oil prices decreased as prospects for a ceasefire between the United States and Iran overshadowed supply concerns tied to Houthi attacks near Saudi Arabia. Even with this retreat, crude prices remained above $100 per barrel, maintaining upward pressure on global inflation. Comments from US central bank officials warning about persistent inflation and hinting at additional rate hikes—following last week’s 25-basis-point increase—have strengthened market expectations for tighter monetary policy and driven up US Treasury yields.
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