Dollar rises against dong

By Ngan Anh   October 11, 2023 | 08:21 pm PT
Dollar rises against dong
The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. Photo by Reuters
The U.S. dollar kept strengthening against the Vietnamese dong on Thursday.

Vietcombank sold the dollar at VND24,610 Thursday, up 0.02% from Wednesday.

The greenback was sold at VND24,550 on the black market, down 0.73%.

The State Bank of Vietnam increased its reference rate by 0.01% to VND24,067.

It has increased over the dong by 3.71% since the beginning of the year.

The dollar was rooted near a two-week low on Thursday following minutes from the last U.S. Federal Reserve meeting that showed policymakers taking a cautious stance and as investors awaited key inflation data, according to Reuters.

The dollar index , which measures the U.S. currency against six rivals, was at 105.67, not far from 105.55, its lowest since Sept. 25 it touched on Wednesday. The index is down 0.4% for the week.

The dollar's recent weakness has been driven by declining Treasury yields as bond prices rallied on the Fed's softer stance on future rate hikes. Bond yields move opposite to their price.

The yield on 10-year Treasury notes was down 3.5 basis points to 4.562%.

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