Dollar increases slightly against dong

By Minh Hieu   May 21, 2024 | 11:45 pm PT
Dollar increases slightly against dong
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. Photo by Reuters
The U.S. dollar strengthened marginally against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND25,466, up 0.01% from Tuesday.

The greenback went up 0.04% to VND25,740 on the black market.

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

The U.S. dollar has increased against the dong by 4.28% since the beginning of the year.

Globally, the dollar was steady against a handful of peers on Wednesday, as the market assessed calls for patience from Federal Reserve officials and awaited the publication of Fed minutes for more insight on the central bank's path, Reuters reported.

The dollar index ticked down 0.06% to 104.57 against a basket of currencies, after popping up briefly to 104.76 overnight.

The euro was up 0.04% at $1.0858, with focus on Thursday's data from the European Central Bank negotiated wage tracker and the euro zone Purchasing Managers' Index.

Against the yen, the dollar was close to flat at 156.25, as traders took a breather from testing the currency pair.

Fed Governor Christopher Waller said overnight that he would need to see several more months of good inflation data before he would be comfortable supporting an easing in the stance of monetary policy.

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