Dollar rises against dong

By Dat Nguyen February 22, 2023 | 11:41 pm PT

An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The U.S. dollar went up against the Vietnamese dong at both banks and unofficial exchange points Thursday afternoon.

Vietcombank sold the dollar at VND23,980, up 0.13% from Wednesday.

The rate at Techcombank was VND24,020, up 0.21%. ACB kept the rate unchanged at VND24,100.

The State Bank of Vietnam (SBV) kept its reference rate stable at VND23,641.

On the black market the dollar was sold at VND23,830, up 0.13%.

The dollar has gained over the dong by 1.05% since the beginning of the year.

Globally the dollar ceded some ground on Thursday as markets warmed up to the idea the Federal Reserve is likely to stay on its aggressive rate-hike path, after minutes from its last policy meeting reinforced the central bank's hawkish rhetoric, Reuters reported.

The dollar retreated from its multi-week highs against some of its major peers in Asia trade, after a broad gain in the previous session, following the release of the minutes.

The euro rose 0.13% to $1.0618, away from its roughly seven-week trough of $1.0598 hit in the previous session.

The Aussie gained 0.26% to $0.6823, having similarly slid to a near seven-week low of $0.6795 on Wednesday, further pressured by a miss in forecasts for Australian wage growth last quarter.