Dollar advances against dong

By Dat Nguyen January 15, 2024 | 08:59 pm PT

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

The U.S. dollar rose against the Vietnamese dong Tuesday morning.

Vietcombank sold the dollar at VND24,670 Tuesday, up 0.14% from Monday.

The State Bank of Vietnam lowered its reference rate by 0.02% to VND23,987.

The greenback went up 0.48% to VND24,970 on the black market.

It has increased by 1.02% since the beginning of the year.

Globally the dollar rose on Tuesday as investors pared back bets on near-term rate-cuts by the U.S. Federal Reserve following hawkish comments from European Central Bank officials, while worries of more attacks on ships in the Red Sea weighed on risk sentiment, Reuters reported.

Against a basket of currencies, the dollar rose 0.253% to 102.90, after having gained 0.2% overnight in subdued trading during a U.S. public holiday on Monday.

The euro fell 0.3% to $1.09185, set for its steepest one-day percentage drop in two weeks. Sterling was last at $1.2681, down 0.36% on the day, edging away from a near-five month high of $1.2825 hit late December.