Dollar strengthens against dong

By Dat Nguyen   May 3, 2024 | 09:04 pm PT
Dollar strengthens against dong
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 Saturday morning.

Vietcombank sold the dollar at VND25,457 Saturday, up 0.02% from Friday.

The State Bank of Vietnam’s reference rate was stable at VND24,245.

The dollar gained 0.08% to VND25,790 on the black market. It has increased over the dong by 4.25% since the beginning of the year.

Globally the dollar fell to a three-week low against the yen on Friday after data showed U.S. jobs growth slowed more than expected in April and annual wage gains cooled, boosting bets that the Federal Reserve will cut rates twice this year, Reuters reported.

The dollar index was last down 0.27% at 105.03 after reaching 104.52, the lowest since April 10. The euro gained 0.39% to $1.0766.

The greenback weakened 0.48% to 152.9 Japanese yen, reaching as low as 151.86, the weakest since April 10.

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