Vietnamese Dong Strengthens as Dollar Drops to VND26,330 at Vietcombank

Vietcombank lowered its selling rate for the US dollar by 0.11 percent to VND26,330 on Tuesday morning, reflecting broad softness across international foreign exchange desks.

The drop in official banking channels contrasted with Vietnam’s parallel market, where the greenback climbed 0.19 percent to VND25,970.

Divergence in local currency trade

Commercial lenders adjusted rates as global demand for the dollar faltered. Currency dealers operating in the unofficial market logged modest buying interest, keeping the gap between bank counters and private money changers unusually narrow.

Vietnamese importers and consumer brands track these daily currency fluctuations closely to price incoming shipments of electronics, packaged goods, and retail inventory.

Global pressures and trade sanctions

In international currency trade, the dollar struggled to retain ground against major peers. The euro traded slightly higher at $1.1668, near a three-month high, while sterling gained 0.1 percent to $1.3639, holding near a six-month peak.

Market participants weighed fresh policy actions from Washington, where US Treasury Secretary Scott Bessent announced an expansion of sanctions against Iran on Monday. Bessent warned foreign entities to sever commercial ties or risk expulsion from dollar clearing networks.

Ray Attrill, head of FX strategy at National Australia Bank, noted in a podcast that the measures could trigger a modest reversal of dollar weakness seen late last week.

Traders across Asian financial hubs are watching whether Treasury yield management and the expanded sanctions framework will halt the dollar’s downward drift before the next fixing.