Dollar gains little against dong

By Dat Nguyen   November 15, 2023 | 08:48 pm PT
Dollar gains little against dong
U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters/Dado Ruvic
The U.S. dollar rose marginally against the Vietnamese dong Thursday morning.

Vietcombank sold the dollar at VND24,470, up 0.12% from Wednesday.

The State Bank of Vietnam kept its reference rate unchanged at VND23,971.

The greenback was stable on the black market at VND24,600.

It has increased against the dong by 3.12% since the beginning of the year.

Globally the dollar held its ground early on Thursday after a volatile two days that saw sharp declines followed by a rebound as traders took incoming economic data as signalling the Federal Reserve will wait longer before cutting interest rates, Reuters reported.

The risk-sensitive Australian and New Zealand dollars sank amid a decline in regional equities.

The U.S. currency was little changed at $1.08425 per euro and slipped 0.15% to 151.15 yen after mounting a recovery on Wednesday from its steepest declines against major peers in a year.

The dollar index - which measures the greenback against the euro, yen and four other rivals - added 0.11% to 104.43. It gained 0.31% on Wednesday, following a 1.51% plunge the previous day.

The dollar drew support from better-than-expected retail sales numbers combined with more signs of a cooling of inflation, feeding into the narrative for an economic 'soft landing', which would allow the Fed more time before cutting rates.

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