Dollar steadies against dong

By Dat Nguyen   February 20, 2023 | 07:57 pm PT
Dollar steadies against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar steadies against the Vietnamese dong on Tuesday morning.

Vietcombank sold the dollar at VND23,930 Tuesday, up 0.13% from Monday.

The rate at Eximbank remained at VND23,980. Techcombank also kept its rate unchanged at VND24,010.

The State Bank of Vietnam raised its reference rate up 0.01% to VND23,643.

The dollar was stable on the black market at VND23,830.

The dollar has gained over the dong by 0.84% since the beginning of the year.

Globally the dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further, Reuters reported.

After a quiet Monday thanks to the President's Day holiday in the United States, the dollar stood steady at 132.24 yen and $1.0687 per euro , with the common currency finding strong support above $1.06.

The U.S. dollar index has climbed three weeks in a row for a gain of about 1.7% through February so far, but has steadied at 103.86, down from a six-week high of 104.67 hit on Friday.

"Friday's inability of euro/dollar to push lower after breaking below $1.0650 rather sums up the FX market for me," said Societe Generale strategist Kit Juckes.

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