Dollar rises against dong

By Dat Nguyen   May 3, 2023 | 08:52 pm PT
Dollar rises 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 rose against the Vietnamese dong on Thursday morning.

Vietcombank sold the dollar at VND23,645 Thursday, up 0.06% from Wednesday.

Techcombank raised its rate by 0.3% to VND23,610.

But Eximbank let the rate slide by 0.3% to VND23,610.

The State Bank of Vietnam lowered its reference by 0.02% to VND23,635.

The dollar remained stable on the black market at VND23,450.

The dollar has fallen against the dong by 0.36% since the beginning of the year.

Globally the dollar slipped against most major currencies on Thursday after the U.S. Federal Reserve opened the door to a pause in its aggressive tightening cycle, though markets were buffeted by risk aversion amid a rout in regional U.S. bank shares, Reuters reported.

The Fed on Wednesday raised its benchmark overnight interest rate by a quarter of a percentage point, as expected, but in doing so dropped from its policy statement language that it "anticipates" further rate increases would be needed.

That sent the U.S. dollar down broadly and Treasury yields sliding, with traders taking the comments as a signal for a peak in U.S. rates had been reached and moved to price in rate cuts later this year.

go to top