Dollar’s decline against dong continues

By Dat Nguyen April 4, 2023 | 02:35 am PT

U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Photo by Reuters/Dado Ruvic

The U.S. dollar continued to fall against the Vietnamese dong Tuesday afternoon.

Vietcombank sold the dollar at VND23,635 Tuesday, down 0.06% from Monday.

Eximbank sold the greenback 0.21% slower at VND23,620. The rate at Techcombank dipped 0.05% to VND23,638.

The State Bank of Vietnam set its reference rate at VND23,602, up 0.01%.

The dollar remained steady on the black market at VND23,480.

It has fallen against the dong by 0.40% since the beginning of the year.

Globally, the pound rose to a new 10-month high against the dollar on Tuesday, and the euro reached its highest in two months, as the greenback continued to be hurt by market bets that the end of the U.S. rate-hiking cycle is near, Reuters reported.

Sterling reached $1.2475, its highest since June 2022, and was last just below that level, up 0.4%.

The euro reached $1.0938, its most since early February, and was last up 0.17% at $1.0921.

The dollar rose to 132.84 against the Japanese yen, and the U.S. dollar index, which tracks the unit against a basket of currencies dipped 0.1% to 101.92.