Dollar extends gains over dong

By Dat Nguyen   October 12, 2023 | 08:55 pm PT
Dollar extends gains over dong
An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank's headquarters in Seoul April 28, 2010. Photo by Reuters/Jo Yong-Hak
The U.S. dollar continued to rise against the Vietnamese dong Friday morning.

Vietcombank sold the dollar at VND24,650, up 0.16% from Thursday.

The State Bank of Vietnam raised its reference rate up 0.04% to VND24,077.

The dollar was sold at VND24,620 on the black market, up 0.29%.

It has increased against the dong by 3.88% since the beginning of the year.

The dollar held firm on Friday after stronger-than-expected U.S. consumer inflation revived prospects that the Federal Reserve will have to keep rates higher for longer, Reuters reported.

At the same time, investors digested producer and consumer prices data out of China that showed deflationary pressures were slightly stronger than expected.

The offshore Chinese yuan was mostly flat versus the greenback at $7.3081.

The Australian dollar , which often trades as a proxy for China growth, was 0.2% stronger at $0.6327.

The dollar index, which measures the U.S. currency against six of its major peers, ticked down slightly to 106.42 in the Asian morning, but held near Thursday's high of 106.60.

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