Dollar gains against dong

By Dat Nguyen   May 18, 2023 | 08:17 pm PT
Dollar gains 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 rose slightly against the Vietnamese dong Friday morning.

Vietcombank sold the dollar at VND23,650, up 0.13% from Thursday.

Eximbank and Techcombank kept their rates stable at VND23,600 and VND23,610, respectively.

The State Bank of Vietnam raised its reference rate by 0.07% to VND23,672.

Unofficial exchange points sold the greenback at VND23,450, down 0.09%.

The dollar has dropped against the dong by 0.34% since the beginning of the year.

Globally the dollar firmed near a six-month peak against the yen on Friday on the back of rising U.S. Treasury yields, as optimism over debt ceiling talks in Washington raised expectations of higher-for-longer interest rates, Reuters reported.

The U.S. dollar index was last at 103.46, flirting with Thursday’s two-month high of 103.63, and was headed for a second straight weekly gain of more than 0.7%.

"Optimism about the debt ceiling (talks) has contributed to a repricing for the Fed ... the fact that (a deal) would remove a big weight on the economy, effectively," said Ray Attrill, head of FX strategy at National Australia Bank (NAB).

"It does remove one obstacle to the Fed continuing to raise rates."

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