Dollar drops slightly against dong

By Dat Nguyen   October 4, 2023 | 08:27 pm PT
Dollar drops slightly 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 Thursday morning.

Vietcombank sold the dollar at VND24,560, down 0.08% from Wednesday.

The State Bank of Vietnam set its reference rate at VND24,084, unchanged from Wednesday.

The dollar was stable at VND24,550 on the black market.

It has increased over the dong by 3.50% since the beginning of the year.

Globally the dollar fell on Wednesday, tracking the pullback in U.S. Treasury yields, amid a mixed set of data suggesting that there are pockets of weakness in the world's largest economy, further diminishing the odds of another interest rate hike by the Federal Reserve before the end of the year, Reuters reported.

The yen, on the other hand, was slightly firmer against the greenback, moving away from the closely watched 150-per dollar mark, as a short-lived surge in the previous session stoked speculation that Japanese authorities may have intervened to support the currency.

The dollar index , which tracks the greenback against six peers, was down 0.3% at 106.69, giving up some of its recent gains, after weaker-than-expected U.S. private payrolls based on the ADP National Employment Report.

The index, however, remained within striking distance of a nearly 11-month high of 107.34 reached in the previous session.

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