Dollar falls against dong

By Dat Nguyen   April 12, 2023 | 08:27 pm PT
Dollar falls 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 Thursday morning.

Vietcombank sold the dollar at VND23,620, down 0.04% from Wednesday.

The rate at Techcombank was 0.02% lower at VND23,616. Eximbank kept the rate unchanged at VND23,600.

The State Bank of Vietnam lowered its reference rate by 0.01% to VND23,606.

The dollar was sold at VND23,450 on the black market, down 0.09%.

It has dropped against the dong by 0.46% since the beginning of the year.

Globally the dollar was on the back foot on Thursday after cooler-than-anticipated U.S. inflation data lifted risk sentiment and stoked expectations that the Federal Reserve will be done with its monetary tightening after hiking one last time next month, Reuters reported.

The dollar index, which measures the currency against six major peers, eased 0.03% to 101.44, hovering around a one week low of 101.40 after sinking 0.6% overnight.

The Consumer Price Index climbed 0.1% last month after advancing 0.4% in February, with a decline in gasoline prices offset by higher rental costs. Economists polled by Reuters had forecast the CPI gaining 0.2% in March.

"While disinflation trends continue and broadened across headline, core and supercore measures, the CPI report is hardly an all clear on inflation," strategists at Saxo Markets said.


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