Dollar declines against dong

By Dat Nguyen   July 8, 2024 | 09:48 pm PT
Dollar declines against dong
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar fell marginally against the Vietnamese dong Tuesday morning.

Vietcombank lowered its rate by 0.004% to VND25,454.

The State Bank of Vietnam kept its reference rate unchanged at VND24,245.

The dollar fell 0.04% to VND25,870 on the black market.

It has increased against the dong by 4.23% since the beginning of the year.

Globally the U.S. dollar hung near a multi-week low versus major peers on Tuesday, still smarting from Friday's unexpectedly soft jobs report as traders awaited testimony from Federal Reserve Chair Jerome Powell for clues on the path of interest rates, Reuters reported.

The euro held its ground after Monday's sharp swings as investors come to terms with a hung parliament in France, which points to potential political gridlock but removes many fiscal concerns stemming from far-right or leftist victories.

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