Dollar stays elevated against dong

By Dat Nguyen March 4, 2024 | 08:45 pm PT

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

The U.S. dollar rose against the Vietnamese dong Tuesday morning and continued to stay at the highest level since the beginning of the year.

Vietcombank sold the dollar at VND24,850, up 0.04% from Monday.

The State Bank of Vietnam (SBV)’s reference rate was 0.03% higher at VND24,012.

The dollar went up 0.35% to VND25,670 on the black market.

It has increased against the dong by 1.76% since the beginning of the year.

Globally the dollar held steady on the yuan on Tuesday as markets digested a welter of policy statements out of China, while a rebound in Tokyo inflation seemed to take Japan a step closer to the end of negative interest rates, Reuters reported.

The yuan was little changed at 7.1987, as markets hoped more concrete stimulus measures would emerge.

The euro idled at $1.0853, having tested resistance around $1.0866. The dollar index, which measures the currency against six major peers, was unchanged at 103.840.