Dollar declines at banks

By Dat Nguyen   February 7, 2023 | 08:35 pm PT
Dollar declines at banks
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 at Vietcombank on but rose on the black market Wednesday morning.

The state-owned lender sold the dollar at VND23,770 Wednesday, down 0.08% from Tuesday.

The rate at Techcombank was VND23,770, down 0.25%.

Eximbank maintained the greenback at VND23,580.

Unofficial exchange points sold the dollar at VND23,620, up 0.30%.

The State Bank of Vietnam raised its reference rate by 0.01% to VND23,624.

The USD/VND exchange rate has increased by 0.17% since the beginning of the year.

Globally the dollar eased on Wednesday after Federal Reserve Chair Jerome Powell failed to offer fresh signs of a hawkish pushback against a resilient labour market in the U.S., leading investors to bet that interest rates may not rise much further, Reuters reported.

Sterling rose 0.06% to $1.2057, rebounding from Tuesday’s one-month trough of $1.19615.

Similarly, the euro was last 0.04% higher at $1.0732, after falling to $1.06695 in the previous session, its lowest since January 9.

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