Dollar strengthens against dong

By Minh Hieu   May 19, 2024 | 09:09 pm PT
Dollar strengthens against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose marginally against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND25,459, up 0.04% from the weekend.

The State Bank of Vietnam kept its reference rate steady at VND24,245.

On the black market, the dollar slid 0.35% to VND25,730.

It has risen against the dong by 4.25% since the beginning of the year.

Globally, the dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling, Reuters reported.

The Japanese yen started the week on the back foot, weakening a bit to 155.80 per dollar as traders remain on tenterhooks for signs of government intervention.

On Monday, the euro was up 0.07% at $1.087525 in early trading, stalking the nearly two-month high of $1.0895 it touched last week.

The dollar index , which measures the U.S. currency against six rivals, was little changed at 104.46.

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