Dollar declines against dong

By Dat Nguyen   June 3, 2024 | 09:05 pm PT
Dollar declines against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar fell against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND25,458, down 0.06% from Monday.

The State Bank of Vietnam’s reference rate was stable at VND24,245.

The dollar fell 0.14% to VND25,820 on the black market.

The greenback has increased against the dong by 4.25% since the beginning of the year.

Globally the dollar languished at its lowest since March against the euro and sterling on Tuesday as signs of a softening U.S. economy boosted the case for earlier Federal Reserve interest rate cuts, Reuters reported.

The dollar index, which measures the currency against the euro, sterling, swissie, yen and two more major peers, was little changed at 104.08, after earlier dipping below 104 for the first time since April 9.

The euro rose as high as $1.0916 for the first time since March 21.

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