Dollar gains over dong

By Dat Nguyen November 30, 2023 | 10:14 pm PT

An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The U.S. dollar rose against the Vietnamese dong Friday morning.

Vietcombank sold the dollar at VND24,440, up 0.04% from Thursday.

The State Bank of Vietnam (SBV)'s reference rate is at VND23,923, up 0.13%.

The dollar was stable VND24,650 on the black market.

It has increased against the dong by 2.99% since the beginning of the year.

Globally the dollar was on the back foot on Friday, while the euro nursed steep losses as traders weighed data that showed inflation was easing, stoking expectations that interest rates had peaked and central banks would soon start cutting rates, Reuters reported.

The dollar index, which measures the U.S. currency against six rivals, was 0.145% lower at 103.30, after clocking its weakest monthly performance in a year in November, despite a 0.6% jump overnight.

The euro was up 0.13% at $1.0902, having slipped 0.7% on Thursday after the inflation data. The single currency is down 0.3% for the week. Sterling was last at $1.2643, up 0.17% on the day.