Tuesday , October 3 2023

US dollar rises to new peak against dong

The U.S. dollar rose to a new peak against the Vietnamese dong as the greenback continued to strengthen globally, with high U.S. inflation prompting investors to buy more of the currency.

State-owned Vietcombank sold the dollar at VND24,200 in the afternoon, 0.49% higher than Tuesday.

The dollar has gone up 5.58% over the dong so far this year.

Other banks also lifted their exchange rate.

The rate at private lender Techcombank went up 0.38% to VND24,110. Eximbank sold its dollar at VND24,200, up 0.46%.

The State Bank of Vietnam pushed the reference rate up 0.07% to VND23,497.

The Japanese yen fell to a 24-year low Tuesday after the Bank of Japan vowed to keep monetary policy loose in order to support an economic recovery, Bloomberg reported.

The USD Index continues to hover around its 20-year high level.

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