Dollar reaches new height against dong

By Dat Nguyen   April 10, 2024 | 11:36 pm PT
Dollar reaches new height 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 hits a new historic peak against the Vietnamese dong Thursday afternoon.

Vietcombank sold the dollar at VND25,170, up 0.16% from Wednesday.

The State Bank of Vietnam raised its reference rate by 0.04% to VND24,046.

The dollar went up 0.53% to VND25,585 on the black market.

It has increased against the dong by 3.07% since the beginning of the year.

Globally the dollar was firm on Thursday after hotter-than-expected U.S. inflation data squashed lingering expectations of the Fed starting its rate-cutting cycle in June, while the yen languished at the levels last seen in the middle of 1990.

The yen's slide to a 34-year low of 153.24 per U.S. dollar on Wednesday brought intervention fears back as authorities in Tokyo reiterated that they would not rule out any steps to deal with excessive swings.

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