Dollar climbs against dong

By Dat Nguyen   October 2, 2023 | 08:55 pm PT
Dollar climbs against dong
Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. Photo by Reuters/Dado Ruvic
The U.S. dollar continued its climb against the Vietnamese dong Tuesday morning.

Vietcombank sold the dollar at VND24,560, up 0.29% from Monday.

The State Bank of Vietnam raised its reference rate up 0.02% to VND24,065.

The greenback was sold at VND24,550 on the black market, up 0.41%.

It has increased over the dong by 3.50% since the beginning of the year.

Globally, dollar held on to fresh highs on Tuesday, pushing the yen down closer to an intervention zone, after strong U.S. economic data bolstered the view that the Federal Reserve will keep interest rates higher for longer, Reuters reported.

The euro also traded near a one-year low against the greenback, dropping below January's 1.0482 nadir, as manufacturing surveys released in both Europe and the U.S. on Monday highlighted the divergence between the two economies.

The dollar index rose around 0.5% to 107.06, at one point hitting as high as 107.12, its highest since November 2022.

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