Dollar strengthens against dong

At unofficial exchange points, the dollar increased by 0.12% from Tuesday to VND25,750 .

Vietcombank sold the greenback at VND25,335, up 0.06%.

The State Bank of Vietnam raised its reference rate by 0.04% to VND24,250.

The dollar has increased against the dong by 3.75% since the beginning of the year.

Globally, the dollar was firmer on Wednesday, surging as much as 2% against the yen after Bank of Japan Deputy Governor Shinichi Uchida said the central bank will not raise interest rates when financial markets are unstable, Reuters reported.

The yen was last down over 1.5% at 146.70 per dollar having touched session lows of 147.50 immediately following Uchida's comments.

This week's market volatility was exacerbated by a softer-than-expected U.S. job report on Friday, and disappointing earnings from major tech firms, sparking a global sell-off in riskier assets as investors feared the U.S. economy was heading for a recession.

The euro was little changed at $1.092675, while sterling last fetched $1.26985 in Asian hours, not far from the five-week low it hit in the previous session.

The U.S. dollar index, which measures the greenback against six rivals, rose 0.22% to 103.19, inching further away from the seven month low of 102.15 it touched on Monday.