Dollar slips against dong

By Minh Hieu   August 8, 2024 | 09:05 pm PT
Dollar slips against dong
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar weakened against Vietnamese dong both at banks and unofficial exchange points Friday morning.

Vietcombank sold the greenback at VND25,280, down 0.16% from Thursday.

The dollar slid 0.45% to VND25,655 on the black market.

The State Bank of Vietnam lowered its reference rate by 0.01% to VND24,260.

The dollar has increased against the dong by 3.52% since the beginning of the year.

Globally, the dollar hovered close to a one-week high against major rivals on Friday, after the biggest drop in U.S. jobless claims in close to a year allayed fears of a looming economic downturn, Reuters reported.

The U.S. currency extended gains against the Japanese yen to a fourth day, buoyed by a spike in Treasury yields following Thursday's firmer-than-expected employment data, which spurred a paring back in bets for Federal Reserve interest rate cuts this year.

The dollar was up 0.27% at 147.66 yen, on course for an advance of around 0.8% this week, despite Monday's precipitous 1.5% plunge.

The dollar index, which measures the currency versus the yen, Swissie, euro, sterling and two other peers, was flat at 103.30 following three days of gains.

It rose as high as 103.54 at one point overnight for the first time since Aug. 2, but was last trading little changed from a week ago. The euro was little changed at $1.0915, up 0.08% from a week ago.

 
 
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