Dollar falls against dong

By Dat Nguyen   August 30, 2023 | 07:10 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 VND24,300, down 0.06% from Wednesday.

The State Bank of Vietnam kept its reference rate unchanged at VND23,977.

The dollar was sold at VND24,220 on the black market, up 0.08%.

It has increased against the dong by 2.40% since the beginning of the year.

Globally the euro stood at a 15-year high on the yen on Thursday on signs of sticky inflation in Europe, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy, Reuters reported.

The dollar index, while still up more than 1% for August, has fallen 1% for the week so far as traders reckon U.S. interest rates may have stopped rising - even if they stay high.

"Market expectations that Fed rates have plateaued are continuing to creep higher," said analysts at ANZ Bank.

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