Dollar gains over dong

Vietcombank sold the dollar at VND24,550 Wednesday, up 0.10% from Tuesday.

The State Bank of Vietnam maintained its reference rate at VND23,928.

The greenback went up 0.08% to VND24,850 on the black market.

It has increased against the dong by 0.53% since the beginning of the year.

The dollar was steady on Wednesday in cautious trading ahead of U.S. inflation data due later this week that is likely to influence the Federal Reserve's policy, while bitcoin was volatile after a fake social media post rattled markets, Reuters reported.

The U.S. securities regulator said someone briefly accessed its X social media account and posted a fake message saying it had approved exchange traded funds (ETFs) for bitcoin. The Securities and Exchange Commission (SEC) said it had not yet approved spot bitcoin ETFs.

In the currency market, the dollar remained on the front foot, with the dollar index, which measures the U.S. currency against six rivals, last at 102.53, after gaining 0.215% on Tuesday.

The index is up 1% this month, after dropping 2% in December as traders reassess how steep and early the rate cuts from the Fed are likely to be.