Dollar returns to 5-month high

By Dat Nguyen   August 13, 2023 | 08:53 pm PT
Dollar returns to 5-month high
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 Monday morning to the highest since Feb. 27.

Vietcombank sold the dollar at VND23,950, up 0.17% from Sunday.

Eximbank sold the greenback at VND23.91, up 0.08%.

The State Bank of Vietnam raised its reference rate by 0.05% to VND23,848.

The dollar was sold at VND23,830 on the black market, up 0.06%.

It has gained over the dong by 0.93% since the beginning of the year.

Globally the yen was volatile on Monday after slipping to its lowest for the year against the dollar, breaching the key 145 level as traders warily looked for clues on possible intervention, while the dollar rose to touch a more than one month high, Reuters reported.

The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. It was last at 144.96 per dollar, flat on the day.

The yen has fallen around 20% since the Federal Reserve began rapidly raising rates to combat soaring inflation in March 2022, while the Bank of Japan remains stuck in an extremely accommodating stance.

The dollar index, which measures the U.S. currency against six peers, tacked on 0.078% at 102.94, its highest since July 7. The index is up 1% for the month.

The euro was down 0.09% to $1.0934, while sterling was last at $1.2676, down 0.14% on the day.

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