Dollar reaches new height against dong

By Dat Nguyen   April 15, 2024 | 08:22 pm PT
Dollar reaches new height 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 Tuesday morning, reaching a new historic high.

Vietcombank sold the dollar at VND25,348, up 0.19% from Monday.

The State Bank of Vietnam raised its reference rate by 0.19% to VND24,141.

The dollar went up 0.20% to VND25,600 on the black market.

It has increased against the dong by 3.80% since the beginning of the year.

Globally the dollar hit a five-month high against major peer currencies on Tuesday following hotter-than-expected U.S. retail sales figures, raising intervention worries as the yen languished at its lowest level since 1990, Reuters reported.

The Chinese yuan stabilized after touching its lowest since November in early Asia trading after GDP data for China's first quarter beat expectations, a boost for policymakers trying to shore up confidence in the face of a protracted property crisis.

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