Dollar slides against dong

By Dat Nguyen November 28, 2023 | 08:07 pm PT

An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

The U.S. dollar fell against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,370, down 0.20% from Tuesday.

The State Bank of Vietnam’s reference rate dropped 0.07% to VND23,913.

The greenback declined by 0.08% to VND24,650 on the black market.

It has gained over the dong by 2.70% since the beginning of the year.

Globally the dollar slid across the board to hit a more than three-month low against its major peers on Wednesday, while the New Zealand dollar surged after its central bank suggested that more rate hikes could be in the offing, Reuters reported.

The kiwi jumped more than 1% to hit a four-month peak of $0.6203 after the Reserve Bank of New Zealand (RBNZ) kept interest rates steady, as expected, but revised its official cash rate (OCR) track higher for 2024 and 2025, pointing to further tightening ahead.

The dollar tumbled more than 0.5% to 146.675 yen, its weakest level in more than two months, and pushed the euro back above $1.10 to an over three-month high of $1.1017.