Dollar inches up against dong

By Dat Nguyen   April 16, 2023 | 08:31 pm PT
Dollar inches up against 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 marginally against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND23,630 Monday, up 0.04% from Sunday.

Eximbank kept the rate unchanged at VND23,600, and Techcombank maintained it at VND23,618.

The State Bank of Vietnam set its reference rate 0.05% lower at VND23,577.

Unofficial exchange points sold the dollar at VND23,460, unchanged from the weekend.

The dollar has depreciated against the dong by 0.42% since the beginning of the year.

Globally the dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May, Reuters reported.

While U.S. retail sales fell more than expected in March, so-called core retail sales, which excludes automobiles, gasoline, building materials and food services, slipped just 0.3% last month, data released on Friday showed.

Against a basket of currencies, the U.S. dollar index rose 0.15% to 101.82, standing some distance away from Friday's one-year low of 100.78.

Friday marked the fifth straight weekly loss for the index.

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