Dollar inches down against dong, slides to 1-week low globally

By Minh Hieu   September 12, 2024 | 09:12 pm PT
Dollar inches down against dong, slides to 1-week low globally
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar fell slightly against the Vietnamese dong Friday morning and dropped to a one-week low against major peers.

Vietcombank sold the dollar at VND24,730, down 0.08% from Thursday.

The greenback slid 0.63% to VND25,400 on the black market.

The State Bank of Vietnam (SBV) lowered its reference rate by 0.06% to VND24,172.

Since the beginning of the year, the dollar has increased against the dong by 1.27%.

Globally, the dollar on Friday slumped against the yen as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials, Reuters reported.

The dollar dropped 0.41% to 141.225 yen, heading back towards Wednesday's low at 140.71, the weakest level this year.

The dollar index, which measures the currency against the yen and five other major rivals, dropped to a one-week trough at 101.03.

The euro added 0.09% to $1.1084, building on Thursday's 0.57% advance after European Central Bank President Christine Lagarde pushed back on prospects of a rate cut in October, following a widely expected quarter-point reduction on Thursday.

 
 
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