An employee counts U.S. banknotes at a bank in Hanoi, Nov. 14, 2022. Photo by VnExpress/Thanh Tung
The U.S. dollar fell against the Vietnamese dong Friday morning as it headed for a weekly drop against major currencies.
Vietcombank sold the greenback at VND26,384, a 0.02% drop from Thursday. On the black market however, the currency rose 0.13% to VND27,176.
The State Bank of Vietnam reduced its reference rate by 0.02% to VND25,128.
Globally, the U.S. dollar has been under pressure as a result, pushing the euro, sterling and the Swiss franc to recent highs.
The dollar index, which measures the dollar against six rivals, was poised for a 0.8% drop for the week, its weakest weekly performance since July. It was steady at 97.935 in Asian hours on Friday, Reuters reported.
The Japanese yen was a shade weaker at 156.23 per U.S. dollar but on course for a 1% weekly rise, its biggest weekly gain since the end of September.
Heading into the new year, investors are focused on when the U.S. Federal Reserve might further cut interest rates and by how much.
They are also are also waiting for U.S. President Donald Trump to nominate a Fed chair to replace Jerome Powell, whose term ends in May, and any inkling of Trump’s decision could sway markets in the coming week.
