The U.S. dollar fell against the Vietnamese dong on the black market Monday morning, but headed for the biggest monthly increase since July against major peers.
Unofficial exchange points sold the greenback 0.25% lower at VND28,080. Vietcombank kept its rate unchanged at VND26,355.
Globally the U.S. dollar held broadly steady on Monday, poised for its strongest monthly gain since July as investors fret about the ramifications of a long war in the Middle East, denting the yen past the crucial 160 level and spurring intervention jitters, Reuters reported.
Markets have been rattled this month after the conflict effectively shut the Strait of Hormuz, a chokepoint for about a fifth of global oil and gas flows, driving Brent crude toward its biggest monthly rise and unsettling rate expectations.
Sterling was at $1.32585, little changed on the day but set for a drop of 1.7% this month. The dollar index, which measures the U.S. currency against six other units, was at 100.14 in early trading.
The euro fetched $1.1512, on course for a 2.5% drop in March, its weakest monthly decline since July.
The Japanese yen firmed to 159.77 per dollar after hitting 160.47 earlier in the session, its weakest level since July 2024 when Tokyo last intervened in the currency markets.
