Dollar gains over dong

Vietcombank sold the dollar at VND25,465, up 0.04% from the weekend.

The greenback increased by 0.35% to VND25,880 on the black market.

The State Bank of Vietnam hiked its reference rate by 0.05% to VND24,253.

Since the beginning of the year, the dollar has increased by 4.28% against the dong.

Globally, the dollar slid on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields, Reuters reported.

The euro extended an early climb to be up 0.6% at $1.0901 and looked set to test resistance around $1.0905.

The dollar fell 0.9% on the yen to 151.60 and threatened support at 151.45. The dollar index eased 0.3% to 103.63.

Early Monday, sterling had regained some of its losses to stand at $1.2994, some way from last week's trough at $1.2841.

The 1-month non-deliverable forward indicates that the rupee will open at 84.04-84.06 to the dollar, compared with its previous close of 84.0750.