Dollar rises against dong

By Dat Nguyen   April 10, 2023 | 08:44 pm PT
Dollar rises against dong
U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. Photo by Reuters/Dado Ruvic
The U.S. dollar gained slightly against the dong Tuesday morning.

Vietcombank sold the dollar at VND23,630, up 0.04% from Monday.

Eximbank maintained the greenback at VND23,600. Techcombank kept its rate stable at VND23,620.

The State Bank of Vietnam’s reference rate remained at VND23,606.

The dollar was sold at VND23,460 on the black market, up 0.04%.

The dollar has decreased against the dong by 0.42% since the beginning of the year.

Globally the U.S. dollar paused for breath on Tuesday following its best rally this month against major peers as a resilient U.S. labour market bolstered the case for a Federal Reserve rate hike next month, Reuters reported.

The U.S. dollar index - which measures the greenback against six major counterparts, including the yen - slipped 0.06% in early Asian trading, following a 0.39% advance at the start of the week.

The yen, which is highly sensitive to long-term U.S. bond yields, managed to claw back some of Monday’s more than 1% slide, as the 10-year Treasury yield also slowed down in Tokyo trading after a sharp two-day climb.

The Japanese currency came under additional pressure overnight as the new Bank of Japan governor, Kazuo Ueda, vowed to stick with ultra-easy stimulus setting for the time being.

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