Dollar slips against dong

By Dat Nguyen   March 6, 2023 | 08:47 pm PT
Dollar slips against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar dropped against the Vietnamese dong Tuesday at both banks and unofficial exchange points.

Vietcombank sold the dollar at VND23,850, down 0.08% from Monday.

Eximbank fixed its rate at VND23,790, also down 0.08%. Techcombank sold the greenback for VND23,830, down 0.02%.

The State Bank of Vietnam (SBV) maintained its reference rate at VND23,633.

The dollar is sold at VND23,800 on the black market, down 0.08%.

The dollar has gained over the dong by 0.51% since the beginning of the year.

Globally the dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation, Reuters reported.

The dollar index, which measures the U.S. currency against six major rivals, was 0.067% higher at 104.31, having skidded 0.26% overnight. The index is down 0.6% for the month following a 2.6% gain in February.

The Australian dollar rose 0.01% against the U.S. dollar at $0.673 ahead of the Reserve Bank of Australia’s policy decision later in the day where a quarter-percentage point rate hike is widely expected.

The euro was 0.03% lower at $1.0675, having risen nearly 0.5% overnight. Sterling was last trading at $1.2025, up 0.03% on the day, while the kiwi fell 0.08% to $0.619.

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