An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar strengthened against the Vietnamese dong Wednesday morning while edging lower against major peers.
Vietcombank sold the dollar at VND25,140, up 0.06% from Tuesday.
The greenback rose 0.04% to VND25,360 on the black market.
The State Bank of Vietnam hiked its reference rate by 0.04% to VND24,187.
Since the beginning of the year, the dollar has increased by 2.95% against the dong.
Globally, the dollar index, which gauges the currency against a basket of six key counterparts, was marginally lower on Wednesday, pulling back from over two-month highs, Reuters reported. The dollar index was down at 103.18.
Asian currencies ticked higher, boosted by the drop in U.S. Treasury yields. The soft reading of manufacturing activity in New York State alongside the fall in U.S. equities prompted investors to buy U.S. Treasuries.
The Indian rupee is expected to open largely unchanged on Wednesday, holding below the 84 handle amid risk-off sentiment and a slight pullback in the U.S. dollar.
The 1-month non-deliverable forward indicated that the rupee will open at 84.04-84.05 to the U.S. dollar compared with 84.0375 in the previous session.
