Dollar declines against dong

By Dat Nguyen   February 28, 2023 | 07:48 pm PT
Dollar declines 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 dropped against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND23,920, down 0.08% from Tuesday.

Eximbank lowered its rate by 0.25% to VND23,880. The rate at Techcombank was VND23,910, down 0.23%.

The State Bank of Vietnam maintained its reference rate at VND23,643.

Unofficial exchange points sold the greenback at VND23,850, down 0.29%.

The dollar has increased over the dong by 0.80% since the beginning of the year.

Globally, the dollar wobbled on Wednesday after China's manufacturing activity expanded at its fastest pace since April 2012 and exceeded forecasts, sparking some risk-on appetite that sent the safe-haven dollar lower, Reuters reported.

The yuan and the Australian dollar got a leg up from the upbeat Chinese economic data, which showed that the official manufacturing purchasing managers' index (PMI) stood at 52.6 last month against 50.1 in January.

The onshore yuan rose and was last roughly 0.1% higher at 6.9250 per dollar, while the offshore yuan gained a larger 0.26% to 6.9371 per dollar.

The Aussie, which slid to a two-month low earlier on Wednesday following soft domestic economic data, also reversed its losses following the Chinese surveys, and was last 0.07% higher at $0.6733.

The euro rose 0.09% to $1.0586, recouping some of its losses from the previous session.

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