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LFHCK a.k.a LiFeHaCK

Dollar Surges to Record High Against Dong – International Edition

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On Thursday morning, the U.S. dollar reached an unprecedented high against the Vietnamese dong even as it declined internationally following the announcement of reciprocal tariffs on all global imports by the United States.

Vietcombank raised the price of the dollar by 0.62%, setting it at VND25,980.

The State Bank of Vietnam increased its reference rate by 0.01%, setting it at VND24,854.

The U.S. currency dropped 0.04% to trade at VND25,910 in the unofficial market.

It has increased by 1.7% relative to the dong since the start of the year.

Worldwide, the dollar weakened against many currencies on Thursday, while the euro strengthened following President Donald Trump’s announcement of more stringent measures than anticipated.
tariffs
versus America’s trade allies, shaking up the financial markets as investors looked for refuge in safer currencies like the Japanese yen and Swiss franc.
Reuters
reported.

The much-anticipated tariff announcement caused tremors across financial markets, leading to a decline in global stock prices and prompting investors to seek refuge in bonds and gold.

Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country’s biggest trading partners. The tariffs will take effect on April 9 and appeared to target about 60 countries.

The fresh tariffs escalate a trade conflict initiated upon Trump’s return to the White House, unsettling financial markets amid concerns that an all-out trade war might precipitate a significant deceleration of the global economy.

“The markets are operating under a ‘risk-averse’ sentiment and are factoring in expectations of slower worldwide economic expansion,” stated Kyle Rodda, who serves as a senior financial market analyst at Capital.com.

In the upcoming days, market concerns will center around determining if trading partners can renegotiate these tariffs and assessing the potential for additional trade limitations moving forward.

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