Dollar inches down against dong

By Dat Nguyen   October 17, 2023 | 10:51 pm PT
Dollar inches down against dong
Bundles of banknotes of U.S. Dollar are pictured at a currency exchange shop in Ciudad Juarez, Mexico January 15, 2018. Photo by Reuters/Jose Luis Gonzalez
The U.S. dollar fell marginally against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,660, down 0.03% from Tuesday.

The State Bank of Vietnam maintained its reference rate at VND24,096.

The dollar was sold at at VND24,640 on the black market, unchanged from Tuesday.

It has increased against the dong by 3.92% since the beginning of the year.

Globally, Asian currencies caught a boost from better-than-expected Chinese economic data on Wednesday, driving the yuan to a one-week high and putting a dampener on the U.S. dollar which has rallied for weeks on end as U.S. yields have climbed, Reuters reported.

The yuan and trade-dependent Australian and New Zealand dollars all bounced. The Aussie was last up 0.2% at $0.6378. The kiwi rose by the same margin to $0.5909. The yuan hit a one-week high of 7.2905 per dollar.

The yen was last at 149.68 to the dollar and was squeezed, as the Bank of Japan had unexpectedly announced $2 billion in bond-buying to keep downward pressure on yields.

The euro gained 0.1% overnight and was steady at $1.0574 in Asia. Sterling held at $1.2170.

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