Dollar slips against dong

By Dat Nguyen   August 16, 2023 | 09:26 pm PT
Dollar slips against dong
A person shows U.S. dollars at a currency exchange store in Manila, Philippines, October 21, 2022. Photo by Reuters
U.S. dollar fell marginally against the Vietnamese dong Thursday morning.

Vietcombank sold the dollar at VND24,110 Thursday, down 0.06% from Wednesday.

The State Bank of Vietnam raised its reference rate by 0.14% to VND23,951.

The dollar was sold at VND24,010 on the black market, up 0.04%.

It has increased against the dong by 1.60% since the beginning of the year.

Globally the dollar pushed the yen deeper into intervention territory on Thursday as a resilient U.S. economy underscored the need for higher-for-longer interest rates, while a strikingly ultra-dovish Bank of Japan struggled to defend its policy stance, Reuters reported.

The Australian dollar tumbled after the country’s July employment unexpectedly fell while its jobless rate ticked up more than expected.

The Aussie sank nearly 1% after the release of the figures, dragging the New Zealand dollar alongside it.

The yen bottomed out at 146.565 per dollar in early Asia trade, its lowest level since November, having come under renewed pressure as a result of interest rate differentials between the U.S. and Japan.

The U.S. dollar index touched a two-month high of 103.59.

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