Dollar rises over dong

By Ngan Anh   July 27, 2023 | 11:37 pm PT
Dollar rises over dong
U.S. Dollar banknote is seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar rose against the Vietnamese dong Friday.

Vietcombank sold the dollar at VND23,855 Friday, up 0.06% from Thursday.

Eximbank raised its rates by 0.08% to VND23,840. Techcombank sold the dollar VND23,862, up 0.1%.

The State Bank of Vietnam increased its reference rate 0.03% to VND23,744.

The USD/VND exchange rate has climbed by 0.53% since the beginning of the year.

The greenback was kept stable at VND23,700 on the black market.

Globally, the dollar strengthened against the euro on Thursday, after better-than-expected U.S. economic data continue to foil investors' expectation for relatively dovish monetary policy from the Federal Reserve.

A recent string of strong data show that, for now, the U.S. is staving off a recession, increasing the likelihood that the Fed could further hike interest rates if it continues to see strong economic numbers across the board.

The dollar index , which measures the currency against six major peers, rose 0.692% to 101.790, while the euro is down 1.06% to $1.0965.

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