Dollar skyrockets against dong

By Dat Nguyen   August 28, 2023 | 08:35 pm PT
Dollar skyrockets 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 continued its surge against the Vietnamese dong Tuesday morning.

Vietcombank sold the dollar at VND24,350, up 0.37% from Monday, highest so far this year.

The State Bank of Vietnam maintained its reference rate at VND23,963.

The dollar was sold at VND24,200 on the black market, up 0.12%.

It has increased against the dong by 2.61% since the beginning of the year.

Globally the dollar was tentative on Tuesday as traders resisted placing large bets ahead of a slew of economic data this week, while the yen struggled near levels that triggered intervention last year, Reuters reported.

The dollar index, which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday.

The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer.

The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov. 9.

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