Dollar tiptoes up against dong

By Dat Nguyen   September 4, 2023 | 08:06 pm PT
Dollar tiptoes up against dong
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar rose slightly against the Vietnamese dong Tuesday morning.

Vietcombank sold the dollar at VND24,280, up 0.17% from Monday.

The State Bank of Vietnam reduced its reference rate by 0.08% to VND23,959.

The dollar was sold at VND24,200 on the black market.

It has increased against the dong by 2.32% since the beginning of the year.

Globally the dollar was firm on Tuesday and the Aussie under a little pressure as traders watched out for the Reserve Bank of Australia's interest rate decision with bets that rates may have peaked, Reuters reported.

The Aussie was 0.5% lower at $0.6431 in early trade. Softer than expected inflation data for July has markets all but certain the cash rate will stay on hold at 4.1% when the RBA announces its decision in the next few hours, far lower than where U.S. overnight rates are at about 5.25-5.5%.

The euro drifted higher from recent lows and was steady at $1.0793 early in the Asia session. U.S. Treasuries opened lower in Asia, after the cash market was closed on Monday, with 10-year yields up 3 basis points to 4.20%.

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