Dollar rises marginally against dong

By Dat Nguyen August 5, 2024 | 08:12 pm PT

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters

The U.S. dollar gained little against the Vietnamese dong Tuesday morning.

Vietcombank sold the greenback at VND25,320, up 0.20% from Monday.

The State Bank of Vietnam lowered its reference rate by 0.004% to VND24,240.

The dollar was at VND25,730 on the black market, up 0.12%.

It has risen against the dong by 3.48% since the beginning of the year.

Globally the U.S. dollar was nursing steep losses on Tuesday, with the yen on the back foot after a sharp rise in the previous session as traders contend with unwinding of popular carry trades and the prospect of deep rate cuts from the Federal Reserve, Reuters reported.

The yen was weaker on Tuesday at 144.47 per dollar, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. The yen was also lower against the Australian dollar, euro and sterling.