American bank notes seen in an illustration. Photo from Pixabay
The US dollar strengthened slightly against the Vietnamese dong on the black market while remaining stable in banks on Monday morning.
Vietcombank sold the dollar at 24,970 VND, unchanged from the previous day.
The greenback rose 0.04% to 25,480 VND at unofficial exchange points.
The State Bank of Vietnam (SBV) maintained its benchmark rate at VND24,004.
It has risen against the dong by 2.25% since the start of the year.
Globally, the dollar was broadly stable on Monday, as data showing easing prices in the United States strengthened bets that the Federal Reserve could cut interest rates in June, while the yen lingered near of 152 to the dollar, keeping traders on alert for the threat of intervention. Reuters reported.
Citi strategists said the Fed remains on track to begin cutting rates in June. “If activity continues, the Fed could make three rate cuts this year. But a further slowdown in labor markets makes us anticipate five rate cuts this year.”
The euro was up 0.06% at $1.07945, hovering near its more than one-month low of $1.0769 hit last week.
The dollar index, which measures the U.S. currency against six of its rivals, fell 0.038 percent to 104.42 but remains near the six-week high of 104.73 it touched last week.
