Dollar declines against dong

By Dat Nguyen   February 1, 2024 | 09:37 pm PT
Dollar declines 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 dropped against the Vietnamese dong Friday morning.

Vietcombank sold the dollar at VND24,570 Friday, down 0.04% from Thursday.

The State Bank of Vietnam (SBV)’s reference rate was stable at VND23,959.

The greenback fell 0.54% to VND24,865 on the black market.

It has increased against the dong by 0.61% since the beginning of the year.

Globally the dollar fell broadly on Friday in a bout of positive risk sentiment following upbeat big tech earnings on Wall Street, while traders awaited U.S. jobs data due later in the day to gauge how soon the Federal Reserve could begin easing rates, Reuters reported.

The closely watched nonfarm payrolls report later on Friday comes on the heels of the Fed's latest policy meeting where rates were kept steady as expected, though Chair Jerome Powell pushed back against market expectations of rate cuts in March.

The dollar index was last at 103.02 and on track for its first weekly decline for the year.

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