Dollar gains over dong

By Dat Nguyen   July 24, 2023 | 08:33 pm PT
Dollar gains over 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 Tuesday morning, continuing its hike which began Sunday.

Vietcombank sold the dollar at VND23,835 Tuesday, up 0.04% from Monday.

Techcombank raised its rate by 0.05% to VND23,853.

The State Bank of Vietnam hiked its reference rate by 0.03% to VND23,760.

The dollar was sold at VND23,720 on the black market, up 0.08%.

The dollar has gained over the dong by 0.44% since the beginning of the year.

Globally the euro hit a two-week low on Tuesday as a worsening downturn in euro zone business muddied the bloc's rate outlook against a still-hawkish European Central Bank (ECB), while the dollar rose ahead of this week's trio of major central bank meetings, Reuters reported.

The offshore yuan strengthened in early Asia trade, following comments from China's top leaders on Monday pledging to step up policy support for its flailing economy.

The euro was shaky at $1.1063, up just 0.02% having slumped to a two-week low of $1.1059 earlier in the session, after a survey on Monday showed euro zone business activity shrank much more than expected in July, reigniting recession fears.

The single currency had slid more than 0.5% in the previous session.

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