Dollar inches higher against dong

By Dat Nguyen   August 28, 2024 | 08:36 pm PT
Dollar inches higher against dong
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 rose slightly against the Vietnamese dong and steadied globally Thursday morning.

Vietcombank sold the greenback at VND25,050, up 0.12% from Wednesday.

The State Bank of Vietnam raised its reference rate by 0.04% to VND24,221.

The dollar plunged 0.40% to VND25,200 on the black market.

It has risen against the dong by 2.50% since the beginning of the year.

Globally the dollar steadied on Thursday as it nursed some of its steep losses from previous sessions, with traders looking ahead to a key U.S. inflation reading at the end of the week that could offer further clues on the outlook for rates there, Reuters reported.

The euro was off its 13-month high and last bought $1.1130. Sterling rose 0.08% to $1.3201, but was some distance away from Tuesday's peak of $1.3269, its strongest level since March 2022.

Investor bets for imminent U.S. rate cuts were further cemented by Fed Chair Jerome Powell's remarks at Jackson Hole last week that the "time has come" to cut rates, joining a chorus of Fed policymakers who have signaled the same in recent times.

 
 
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