Dollar ticks up against dong

By Dat Nguyen   November 21, 2023 | 08:15 pm PT
Dollar ticks up against dong
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar gained slightly against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,320 Wednesday, up 0.12% from Tuesday.

The State Bank of Vietnam kept its reference rate unchanged at VND23,885.

The greenback was sold at VND24,560 on the black market, down 0.37%.

It has increased against the dong by 2.49% since the beginning of the year.

The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over, Reuters reported.

Markets are all but certain that the Fed will hold rates at their December meeting, while pricing in about a 30% chance of a rate cut as early as March, according to CME's FedWatch Tool.

The dollar index , which measure the greenback against a basket of currencies, was flat at 103.58, near levels last seen in early September but off an overnight session low of 103.17.

The euro last sat at $1.0912 after rising to its highest against the dollar since mid-August to $1.0966 on Tuesday.

Sterling was mostly flat at $1.2534, not far from a two-month high of $1.2554 touched overnight.

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