Dollar inches up against dong

By Dat Nguyen   January 23, 2024 | 08:46 pm PT
Dollar inches up against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose slightly against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,750 Wednesday, up 0.08% from Tuesday.

The State Bank of Vietnam maintained its reference rate at VND24,030.

The dollar went up 0.08% to VND25,100 on the black market.

It has increased against the dong by 1.35% since the beginning of the year.

Globally the dollar hovered near a six-week high against major peers on Wednesday as investors cemented expectations that the Federal Reserve would be in no rush to cut interest rates in the face of a resilient U.S. economy, Reuters reported.

The Japanese yen, though, ticked higher as expectations rose for a stimulus exit as soon as March, following hawkish comments from the Bank of Japan on Tuesday.

The U.S. dollar index - which tracks the currency against six rivals, including the euro and yen - was flat at 103.48 after rising to the highest since Dec. 13 at 103.82 in the previous session.

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