U.S. Dollar Ascends to Year’s High Against Key Currencies Amid Oil Price Surge & Inflation Fears

The United States dollar achieved a rise against the Vietnamese dong on Thursday morning, while concurrently reaching peak levels this year against other major currencies. The Vietnamese bank, Vietcombank, increased the dollar’s rate by 0.01%, setting it at VND26,314.

Greenback Performance in the Informal Market

In contrast to its performance with Vietcombank, the US dollar, informally known as the greenback, recorded a slight decline of 0.18% on the informal market, bringing it down to VND27,910.

The Dollar’s Global Strength

On the international front, the greenback maintained its position as a safe-haven currency, staying close to its most robust levels of the year. This strength comes in the wake of rising oil prices, which threaten to trigger inflation and compel central banks worldwide to adopt a more bullish policy stance.

Performance Against Other Currencies

The euro experienced a minor fall of 0.1% against the greenback, with an early Asian trading rate of $1.1549, which is nearing its lowest level since November.

Japan’s yen also saw a decline, dipping below the 159-per-dollar mark, with a decrease of up to 0.2% to 159.23. This trend brings the yen close to its weakest level since July 2024.

Meanwhile, the Australian dollar and the New Zealand dollar each fell by 0.1%, recorded at $0.7148 and $0.5907 respectively.