Dollar climbs against dong

By Dat Nguyen   May 25, 2023 | 07:45 pm PT
Dollar climbs 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 rose against the Vietnamese dong Friday morning.

Vietcombank sold the dollar at VND23,660, up 0.08% from Thursday.

Eximbank kept the greenback unchanged at VND23,620.

Techcombank maintained its rate at VND23,646.

The State Bank of Vietnam raised its reference rate up 0.11% to VND23,711.

The dollar was sold at VND23,525 on the black market, up 0.19%.

It has decreased against the dong by 0.29% since the beginning of the year.

Globally the dollar stood near a two-month high against its major peers on Friday and was headed for a third weekly gain on expectations that U.S. interest rates could remain higher for longer than initially expected, Reuters reported.

The greenback was up in early Asia trade and sat at 139.82 yen, having peaked at 140.23 yen in the previous session, its highest since November.

The U.S. dollar index edged 0.05% lower to 104.18, jut off of Thursday's two-month high of 104.31.

The index is up 1% for the week, headed for a third weekly gain, as traders ramped up their expectations of how much further rates could rise in the U.S.

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