Dollar falls against dong

By Dat Nguyen December 19, 2023 | 08:28 pm PT

U.S. hundred dollar notes are seen in this picture illustration taken in Seoul Feb. 7, 2011. Photo by Reuters/Lee Jae-Won

The U.S. dollar dropped marginally against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,510, down 0.02% from Tuesday.

The State Bank of Vietnam raised its reference rate by 0.10% to VND23,938.

The dollar went up 0.04% to VND24,750 on the black market.

It has increased against the dong by 3.29% since the beginning of the year.

Globally the U.S. dollar slipped against most major currencies on Wednesday as traders continued to sell the currency on bets that the U.S. Federal Reserve will soon begin cutting interest rates, ahead of inflation data later this week, Reuters reported.

The exception was the yen, against which the dollar held firm after the Bank of Japan was mum on an end to its ultra-loose monetary policy the previous day.

The dollar index was last mostly flat at 102.20 after sliding more than 0.3% on Tuesday and hitting a four-month low of 101.76 last week.

The dollar had the yen pinned lower at 143.78 yen, after the Japanese currency fell to as low as 144.95 the previous day.