Dollar rises against dong

By Minh Hieu December 15, 2024 | 11:57 pm PT

An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The U.S. dollar rose against the Vietnamese dong Monday morning while holding steady against major peers.

Vietcombank sold the greenback at VND25,485, up 0.03% from the weekend. The greenback slid 0.04% to VND25,750 on the black market.

The State Bank of Vietnam raised its reference rate by 0.03% to VND24,272. The dollar has risen against the dong by 4.36% since the beginning of the year.

Globally, the U.S. dollar hovered close to a three-week peak versus major peers on Monday amid expectations the Federal Reserve will cut interest rates this week but then signal a measured pace of easing for 2025, Reuters reported.

The U.S. dollar index - which tracks the currency against the euro, sterling, yen and three other top rivals - was steady at 106.87, after rising to 107.18 on Friday for the first time since Nov. 26.

The dollar likewise held firm on the yen at 153.93, having jumped almost 2.5% last week.

The euro looked wobbly at $1.0518, not helped by news ratings agency Moody's unexpectedly downgraded France on Friday.

The rupee was at 84.8250, down 0.04% from its close at 84.7875 on Friday.