Dollar climbs to two-month high against dong

By Dat Nguyen   January 3, 2024 | 08:53 pm PT
Dollar climbs to two-month high against dong
Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. Photo by Reuters/Dado Ruvic
The U.S. dollar rose against the Vietnamese dong Thursday morning to reach the highest since Nov. 5.

Vietcombank sold the dollar at VND24,560, up 0.16% from Wednesday.

The State Bank of Vietnam raised its reference rate by 0.12% to VND23,915.

The greenback went up 0.40% to VND24,800 on the black market.

It has increased against the dong by 0.57% since the beginning of the year.

Globally the dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month, Reuters reported.

The greenback was on the front foot in early deals in Asia, as trading returned to full swing with Japan back from an extended New Year break.

Against the yen, the dollar stood near a two-week peak and last bought 143.09 yen, having jumped more than 0.9% against the Japanese currency in the previous session, its best day since October.

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