Dollar nears 2-month high against dong

Viet Combank sold the dollar 0.09% higher at 25,452 dong, its highest level since July 31.

The State Bank of Vietnam raised its base rate by 0.05% to VND 24,240.

On the black market, the dollar jumped 0.79% to VND25,560. Since the beginning of the year, it has gained 4.14% against the dong.

Globally, the US dollar held to a two-and-a-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to cutting interest rates, while tight battles in the upcoming US election kept investors on edge. Reuters reported.

The dollar index, which measures the U.S. currency against six peers, was last at 103.96 in Asian hours, having hit its highest level of 104.02 since Aug. 1 on Monday. The index could rise by more than 3% in a month.

The euro last bought $1.081725, hovering near its lowest since August 2, while sterling traded at $1.2982, hovering near its lowest since August 20.