Dollar drops against dong

By Dat Nguyen   September 24, 2023 | 08:43 pm PT
Dollar drops 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 fell marginally against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND24,520, down 0.04% from Sunday.

The State Bank of Vietnam raised its reference by 0.07% to VND24,076.

The greenback was sold at VND24,400 on the black market, up 0.21%. It has gained over the dong by 3.33% since the beginning of the year.

Globally, the yen approached the closely watched 150 per dollar level on Monday and kept traders on intervention watch after the Bank of Japan and Governor Kazuo Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy, Reuters reported.

In the broader currency market, the dollar was on the front foot, extending its gains from last week after a still-hawkish Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected.

The dollar index, which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

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