Dollar declines against dong

By Dat Nguyen   September 20, 2023 | 08:26 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 Thursday morning.

Vietcombank sold the dollar at VND24,440, down 0.16% from Wednesday.

The State Bank of Vietnam lowered its reference rate by 0.07% to VND24,063.

The dollar was sold at VND24,430 on the black market, up 0.33%.

It has gained over the dong by 2.99% since the beginning of the year.

Globally, the U.S. dollar edged higher against a basket of currencies on Wednesday, after the Federal Reserve held interest rates steady but stiffened its hawkish stance with a further rate increase projected by the end of the year, Reuters reported.

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range, just a quarter of a percentage point above the current range.

The U.S. dollar index , which measures the currency against a basket of rivals, was 0.09% higher at 105.21, after having been as low as 104.66 earlier in the session.

The index rose for its ninth straight week last week, its longest winning streak in nearly a decade as resilient U.S. growth has fueled a rebound in the dollar.

 
 
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