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Dollar continues to weaken against dong

By Do Huong   November 24, 2022 | 10:44 pm PT
Dollar continues to weaken against dong
U.S. dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar weakens against the Vietnamese dong at both banks and unofficial exchange points Friday.

Vietcombank and TPBank sold the greenback at VND24,852, down 0.008% from Thursday. Techcombank let the dollar slide 0.008% to VND24,850.

The State Bank of Vietnam (SBV) set its exchange rate at VND23,669, also down 0.008%.

The dollar was sold VND24,920 at unofficial exchange points, down 0.08% from Thursday.

Globally, the U.S. dollar stood close to a three-month low and was headed for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors and kept the mood buoyant, according to Reuters.

The Fed's aggressive rate increases and market expectations of how high the central bank could take them has been a huge driver of the dollar's 10% surge this year.

Against a basket of currencies, the U.S. dollar index stood at 105.83, testing its three-month trough of 105.30 hit last week. It is down more than 1% for the week.

 
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