Dollar inches down

By Dat Nguyen May 28, 2023 | 10:05 pm PT

Bundles of banknotes of U.S. Dollar are pictured at a currency exchange shop in Ciudad Juarez, Mexico January 15, 2018. Photo by Reuters

The U.S. dollar fell marginally against the Vietnamese dong at both banks and unofficial exchange points Monday morning.

Vietcombank sold the dollar at VND23,650, down 0.04% from Sunday.

Techcombank lowed its rate by 0.01% to VND23,649.

The State Bank of Vietnam maintained its reference rate at VND23,712.

The dollar was sold at VND23,530 on the black market, down 0.04%.

It has fallen against the dong by 0.34% since the beginning of the year.

Globally the dollar was firm on Monday as economic resilience in the U.S. raised market expectations for further rate hikes by the Federal Reserve, while news that a debt ceiling deal had been finalized sparked some risk-on sentiment, Reuters reported.

The greenback notched a fresh six-month high of 140.91 yen in early Asia trade and was headed for a monthly gain of more than 3% against the Japanese currency.

The yen’s renewed decline has come on the back of rising U.S. Treasury yields, as bets grow that interest rates in the United States would stay higher for longer.

Data released on Friday showed that U.S. consumer spending increased more than expected in April and inflation picked up, adding to signs of a still-resilient economy.