Dollar slips against dong

By Dat Nguyen   July 12, 2023 | 10:06 pm PT
Dollar slips 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 dropped against the Vietnamese dong Thursday morning.

Vietcombank sold the dollar at VND23,830, down 0.08% from Wednesday.

The State Bank of Vietnam’s reference rate was at VND23,758, down 0.06%.

The dollar fell 0.08% to VND23,670 on the black market.

It has gained over the dong by 0.42% since the beginning of the year.

Globally a bruised dollar was nudged lower still in Asia on Thursday, as traders took surprisingly slow U.S. inflation as a signal U.S. interest rate rises will be all but finished by month’s end, Reuters reported.

The dollar had its worst session in five months overnight, falling more than 1% against the euro to its lowest in more than a year and notching even larger losses elsewhere.

The euro hit a fresh 15-month high of $1.1141 in early Asia trade and the yen, up 0.3% at 138.16 per dollar, was its strongest since mid-May. The U.S. dollar index fell marginally to 100.47, its lowest since April 2022.

The New Zealand dollar reached a two-month high of $0.6309 and the Aussie a three-week peak of $0.6796.

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