Dollar pushes up against dong

By Dat Nguyen   October 31, 2023 | 08:23 pm PT
Dollar pushes up against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong Wednesday morning.

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

The State Bank of Vietnam raised its reference rate by 0.01% to VND24,089.

The dollar was sold at VND24,600 on the black market, unchanged from Tuesday.

It has gained over the dong by 4.30% since the beginning of the year.

Globally, the yen wobbled near 15-year lows on the euro and a one-year trough on the dollar on Wednesday, having slid on bets that a tweak of Japan’s yield control policy isn’t enough to close wide interest rate gaps that have pressured the currency for years, Reuters reported.

The New Zealand dollar slipped 0.4% to $0.5805 as softer-than-forecast employment data cemented expectations of an end to interest rate hikes.

Against the dollar, the yen fell about 1.7% overnight, touching a low of 151.74 - a whisker from the 151.94 level that prompted intervention a year ago. The yen breached 160 per euro for the first time since 2008.

It was last at 151.27 per dollar - down 13% for the year so far and 38% from its pandemic peak - and at 160.05 per euro.

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