The dollar is falling against the dong

Vietcombank sold the dollar at VND25,464, down 0.04% from the weekend.

The dollar on the black market remains stable at VND 25,980.

The State Bank of Vietnam (SBV) lowered its reference rate by 0.03% to VND 24,252.

Since the beginning of the year, the dollar has strengthened against the dong by 4.28%.

The euro rose globally on Monday after the first round of snap elections in France put the far-right in the lead, albeit by a smaller margin than expected, while a cut in Japan’s first-quarter growth forecast weakened the yen, Reuter reported.

The euro, which has fallen about 0.8% since President Emmanuel Macron announced the election on June 9, was last 0.24% higher at $1.0737 after hitting a more than week high of $1.0749 earlier in the session.

The euro’s rise caused the dollar to fall slightly against a basket of currencies, although the dollar also weakened after Friday’s data showed U.S. inflation fell in May, cementing expectations that the Federal Reserve will begin cutting interest rates later this year .

The yen failed to strengthen against the generally weaker dollar and fell 0.05% to 160.93 per dollar.

The dollar index fell 0.1% to 105.6.