Dollar gains little over dong

By Dat Nguyen   January 9, 2024 | 02:28 am PT
Dollar gains little over dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The dollar rose marginally against the Vietnamese dong Tuesday but slipped over a basket of currencies.

Vietcombank sold the dollar at VND24,525 Tuesday, up 0.04% from Monday.

The State Bank of Vietnam maintained its reference rate at VND23,931.

The dollar was stable at VND24,830 on the black market.

It has increased against the dong by 0.43% since the beginning of the year.

Globally the dollar paused its rally on Tuesday, as traders reaffirmed their bets for a slew of Federal Reserve rate cuts this year on the belief that inflation in the U.S. is slowing sufficiently, Reuters reported.

The euro last stood at $1.0949, away from its recent three-week low of $1.0877, while the Japanese yen distanced itself from the 145 per dollar level following a broad decline in the greenback as U.S. Treasury yields slipped.

Against a basket of currencies, the U.S. dollar eased slightly by 0.04% to 102.26, having risen 1% last week.

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