Dollar gains against dong

By Dat Nguyen   June 19, 2023 | 08:44 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 against the Vietnamese dong on Tuesday morning.

Vietcombank sold the dollar at VND23,700 Tuesday, up 0.04% from Monday.

Techcombank hiked its rate by 0.02% to VND23,702. Eximbank maintained the greenback at VND23,670.

The State Bank of Vietnam raised its reference rate up 0.09% to VND23,718. The dollar was sold at VND23,600 on the black market, up 0.13%.

The dollar has fallen against the dong by 0.13% since the beginning of the year.

Elsewhere the yuan slipped toward seven-month lows on Tuesday as China cut lending benchmarks, while the Australian dollar fell after latest central bank meeting minutes showed keeping interest rates unchanged was under consideration, Reuters reported.

China on Tuesday lowered its one-year and five-year loan prime rates (LPR) by 10 basis points, the first such easing in 10 months as authorities seek to shore up a slowing economic recovery.

The decision knocked the yuan lower in Asian trading and it last fell 0.2% in onshore trade to 7.1747 per dollar, not far from last week's nearly seven-month low of 7.1819.

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