Dollar declines against dong

By Dat Nguyen   May 21, 2023 | 06:50 pm PT
Dollar declines against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar fell against the Vietnamese dong Monday.

Vietcombank sold the dollar at VND23,630, down 0.13% from Sunday.

Eximbank and Techcombank kept their rates unchanged at VND23,620 and VND23,645, respectively.

The State Bank of Vietnam raised its reference rate by 0.02% to VND23,684.

The greenback was sold at VND23,475 on the black market, up 0.11%.

The dollar has fallen against the dong by 0.42% since the beginning of the year.

Globally the dollar nursed losses against the yen and euro on Monday following a surprise breakdown in U.S. debt ceiling negotiations and after Federal Reserve chair Jerome Powell indicated a preference to slow rate hikes, Reuters reported.

The greenback slipped 0.15% to 137.715 yen at the start of the week, having snapped a six-day winning streak on Friday and pulling back from a six-month peak.

The euro added 0.14% to $1.0822, extending Friday’s advance, when it bounced off a seven-week low.

Investors now await a key meeting between U.S. President Joe Biden and House Republican Speaker Kevin McCarthy to discuss the debt ceiling on Monday.

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