Dollar weakens against dong

By Minh Hieu   July 30, 2024 | 09:27 pm PT
Dollar weakens against dong
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. Photo by Reuters
The U.S. dollar fell against the Vietnamese dong Wednesday morning.

Vietcombank sold the greenback at VND25,455, down 0.02% from Tuesday.

The dollar were steady at VND25,730 on the black market.

The State Bank of Vietnam lowered its reference rate by 0.01% to VND24,255.

Since the beginning of the year, the dollar has risen by 4.24% against the dong.

Globally, the yen hovered near a 2-1/2-month high on Wednesday ahead of a Bank of Japan (BOJ) policy decision in which investors expect plans to taper its huge bond-buying program and hints as to when it will raise interest rates, Reuters reported.

The main market event in the Asian trading session is the outcome of the latest BOJ policy meeting, with the yen last 0.17% higher at 152.49 per dollar.

It jumped 0.8% in the previous session after reports that the BOJ is considering raising short-term interest rates to around 0.25%.

The euro was last 0.06% higher at $1.0823 and was eyeing a 0.95% gain for July, helped by an easing dollar.

The dollar index dipped 0.05% to 104.39 and was on track to lose 1.3% for the month.

 
 
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