Dollar reaches 4-month peak

By Dat Nguyen   July 3, 2023 | 09:40 pm PT
Dollar reaches 4-month peak
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar continued to gain against the Vietnamese dong on Tuesday and reached the highest since March 11.

Vietcombank sold the dollar at VND23,840, up 0.08% from Monday.

Eximbank kept its rate stable at VND23,670, while Techcombank lowered it by 0.03% to VND23,858.

The State Bank of Vietnam maintained its reference rate at VND23,804.

The dollar was sold at VND23,700 on the black market, down 0.08%.

Elsewhere the yen was up 0.17% at 144.42 per dollar in early Asian hours, but remained close to last week’s eight month low of 145.07 per dollar that prompted Finance Minister Shunichi Suzuki to warn against excessive yen selling.

Earlier on Tuesday, Japan’s top financial diplomat Masato Kanda said that officials were in close contact with U.S. Treasury Secretary Janet Yellen and other overseas authorities almost everyday on currencies and broader financial markets.

"This is sending signals that a coordinated intervention may be coming as yen continues to hover above 144 per dollar," said Charu Chanana, market strategist at Saxo Markets.

Against a basket of currencies, the dollar eased 0.039% to 102.910 after data overnight showed U.S. manufacturing slumped further in June, reaching levels last seen when the nation was reeling from the initial wave of the Covid-19 pandemic.

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