Dollar drops against dong

By Dat Nguyen January 31, 2024 | 10:03 pm PT

U.S. banknotes seen in an illustration. Photo by Pixabay

The U.S. dollar fell slightly against the Vietnamese dong Thursday morning.

Vietcombank sold the dollar at VND24,575, down 0.08% from Wednesday.

The State Bank of Vietnam kept its reference rate stable at VND23,960.

The greenback went up 0.63% to VND24,800 on the black market.

It has increased against the dong by 0.63% since the beginning of the year.

Globally the dollar hovered close to the highest level in seven weeks against the euro on Thursday, after Federal Reserve Chair Jerome Powell pushed back on the idea of a first U.S. interest rate cut as soon as March, Reuters rerported.

The yen, however, held on to overnight gains amid a decline in U.S. Treasury yields, as troubles at regional U.S. lender New York Community Bancorp sparked a rush to safer assets.

The U.S. dollar index, which measures the currency against a basket of six major peers including the euro and yen, slipped 0.07% to 103.54 in early Asian trading, giving back a little of Wednesday's 0.19% advance.