Dollar rises against dong

By Minh Hieu July 28, 2024 | 09:10 pm PT

An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung

The U.S. dollar strengthened slightly against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND25,464, up 0.01% from the weekend.

At unofficial exchange points, the greenback fell 0.04% to VND25,720.

The State Bank of Vietnam’s reference rate rose 0.01% to VND24,252.

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

Globally, the yen strengthened on Monday, reversing earlier declines, as an escalation in Middle-East tensions reignited safe-haven demand for the Japanese currency, Reuters reported.

The dollar was last down 0.17% at 153.51 yen after slipping as much as 0.35% initially.

The dollar dipped as low as 151.945 on Thursday for the first time since May 3, and ended the week down 2.4%, its worst weekly performance since late April.

The dollar index, which measures the currency against the yen, euro, sterling and six other major peers, fell 0.19% to 104.17.

The euro eased 0.15% to 166.53 yen, and added 0.12% to $1.0868.

The U.S. earnings calendar this week is populated with heavyweights including Amazon, Apple, Meta and Microsoft.

Currency traders also need to contend with policy decisions from both the Bank of Japan and Federal Reserve on Wednesday, followed by the Bank of England a day later.