U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong on Monday morning as it fell against several major currencies.
Vietcombank sold the greenback at VND26,130, a 0.08% gain from the weekend. The currency was down 0.04% to VND26,420 on the black market.
The State Bank of Vietnam hiked its reference rate by 0.04% to VND24,970.
Globally, the U.S. dollar trimmed a four-week gain in early Asian trade as markets digested a surprise downgrade of the U.S. government’s credit rating and as lingering trade frictions weighed on sentiment, Reuters reported.
The greenback advanced 0.6% against major counterparts last week after a temporary trade truce between the U.S. and China eased fears of a global recession. But economic data pointed to rising import prices and waning consumer confidence.
Moody’s cut America’s top sovereign credit rating by one notch on Friday, the last of the major ratings agencies to downgrade the country, citing concerns about the nation’s growing $36 trillion debt pile.
The dollar lost 0.3% to 145.22 yen. The greenback was also 0.2% lower against the Swiss franc, another safe-haven counterpart. The euro stood at $1.1185, up 0.2%. Sterling traded at $1.3299, up 0.1%.
