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Dollar drops against dong

The U.S. dollar fell marginally against the Vietnamese dong Tuesday morning.

Dollar drops against dong

Vietcombank sold the dollar at VND23,660 Tuesday, down 0.04% from Monday.

Eximbank maintained the greenback at VND23,630, while Techcombank sold it at VND23,655.

The State Bank of Vietnam raised its reference rate by 0.11% to VND23,720.

The dollar was sold at VND23,520 on the black market, down 0.04%.

It has declined against the dong by 0.29% since the beginning of the year.

Globally the dollar languished well below last week’s 2-1/2-month highs on Tuesday after unexpectedly soft U.S. services data firmed up expectations for a rate pause at the Federal Reserve’s meeting next week but clouded the policy outlook for the months ahead, Reuters reported.

The U.S. dollar index – which measures the currency against six major peers – was flat at 104.00, after a shaky few days that saw it rally to a 2 1/2-month peak at 104.70 on the final day of May, only to get knocked back by suggestions by Fed officials that they would skip a rate hike in June.

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