Dollar falls to one-month low against dong

By Dat Nguyen   May 15, 2024 | 09:31 pm PT
Dollar falls to one-month low 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 against the Vietnamese dong Thursday morning to the lowest since April 17.

Vietcombank sold the dollar at VND25,452, down 0.12% from Wednesday.

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

The greenback was unchanged on the black market at VND25,820.

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

Globally the dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years, pulling forward expectations for rate cuts in the world's biggest economy and drawing bets that the U.S. currency may have peaked, for now, Reuters reported.

In Asia the battered yen extended a rebound into a second session, rallying to its strongest in two weeks at 153.6 to the dollar as the gap between U.S. and Japanese.

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