The US dollar strengthened again as investors reassessed the outlook for US monetary policy. Vietnam’s major banks kept their US dollar exchange rates broadly unchanged, while views emerged that downward pressure on the yen would continue.
The State Bank of Vietnam’s reference rate this morning was maintained at 25,463 Vietnamese dong per US dollar, with a fluctuation band of ±5%, putting the upper limit at 26,736 dong and the lower limit at 24,190 dong. In line with this, Vietcombank quoted 26,030–26,410 dong per US dollar, MB 26,025–26,405 dong per US dollar, HDBank 26,030–26,390 dong per US dollar and Agribank 26,050–26,430 dong per US dollar. All were reported to be stable compared with the previous day.
At the same time, bearish views on the yen against the US dollar remained entrenched. BofA Global Research pointed to delays in the Bank of Japan’s response to inflation and structural selling pressure on the yen. Other views suggested that selling pressure on the yen would be offset by overseas investment flows and demand related to AI.