Dollar drops against dong

By Dat Nguyen September 26, 2024 | 10:44 pm PT

A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters

The U.S. dollar fell against the Vietnamese dong Friday morning and headed for another month of decline globally.

Vietcombank sold the greenback at VND25,000, down 0.20% from Thursday.

The State Bank of Vietnam kept its reference rate stable at VND24,118.

The dollar jumped 0.44% to VND25,210 on the black market.

It has risen 2.29% against the dong since the beginning of the year.

Globally the dollar wobbled on Friday and looked set for a third straight month of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft, Reuters reported.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was last at 100.69, not far from the 14-month low of 100.21 it touched on Wednesday. The index is on course for fourth straight week of declines and third monthly loss in a row.