Vietcombank reported a decrease in the US dollar's value, selling it at VND25,250, a 0.28% drop from Thursday. In the black market, the dollar fell 0.2% to VND25,550. Concurrently, the State Bank of Vietnam adjusted its reference rate downwards by 0.01% to VND24,325.
Internationally, the Japanese yen strengthened following the Bank of Japan's decision to raise interest rates to their highest level since the 2008 financial crisis. This move, along with revised inflation forecasts, reflects the bank's confidence in maintaining inflation around the 2% target. Post-announcement, the yen appreciated approximately 0.5% to 155.32 per dollar, while the yield on two-year Japanese government bonds climbed to 0.705%, the highest since October 2008.
In the US dollar market, the greenback extended its losses, declining 0.35% to 107.77 against a basket of currencies, marking a projected 1.5% drop for the week. The euro gained 0.32% to $1.0448, indicating a potential weekly increase of about 1.7%, the most significant rise since November 2023. Similarly, the British pound advanced 0.38% to $1.2399, poised for a 1.9% weekly gain, ending three consecutive weeks of decline.
Market analysts noted that comments from former President Trump, urging the Federal Reserve to cut interest rates, contributed to volatility in the dollar's value, raising concerns about the independence of the Fed.