Dollar Gains as Inflation Fears Send Global Currency to 17-Month High

The US dollar strengthened against the Vietnamese dong on Friday morning, marking its third weekly gain against major rivals. The greenback was sold at VND26,190 by Vietcombank, a 0.04% increase from Thursday's price.

On the black market, the currency dropped 0.54% to around VND25,960. Meanwhile, the State Bank of Vietnam raised its reference rate by 0.05% to VND25,636.

Globally, the US dollar was at a 17-month high, driven by inflationary fears over higher oil prices and a bond market rout. The dollar index, which measures the US currency against six rivals, stood at 102.08, set for a 1% gain this week.