Dollar slips against dong

By Dat Nguyen   August 29, 2023 | 06:57 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 fell marginally against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,330, down 0.08% from Tuesday.

The State Bank of Vietnam raised its reference rate by 0.06% to VND23,978.

The dollar gained 0.12% to VND24,200 on the black market.

It has increased over the dong by 2.53% since the beginning of the year.

Globally the dollar nursed its sharpest drop in a month and a half on Wednesday, as investors bet that softer-than-expected U.S. jobs data reduced the chances of further Federal Reserve rate hikes, Reuters reported.

The U.S. dollar index - which measures the currency against six developed-market peers including the yen and euro - was little changed at 103.57 after pulling back from as high as 104.36 overnight after a sharp drop in the U.S. JOLTS job openings data to a 2-1/2 year low in July.

The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S. currency.

The Australian dollar dropped from near a two-week peak after inflation there cooled by more than economists predicted in July.

China’s yuan was buoyed above a 10-month low in offshore trading after the country’s central bank again set a much stronger than anticipated official mid-point.

go to top