An employee counts American notes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The US dollar appreciated against the Vietnamese dong on the black market on Wednesday morning and reached its highest global level in a month.
Unofficial exchanges sold the greenback at 24,980 VND, up 0.04 percent from Tuesday.
Vietcombank kept its rate unchanged at 24,710 VND.
The State Bank of Vietnam maintained its reference rate at VND24,017.
The dollar has appreciated by 1.19% against the dong since the start of the year.
Globally, the dollar index hovered at a one-month high against a basket of currencies on Wednesday, as remarks from Federal Reserve Governor Christopher Waller dampened expectations for a rate cut in March. Reuters reported.
Meanwhile, China’s offshore yuan rose slightly after data showed the world’s second-largest economy grew enough in the fourth quarter of 2023 to meet the country’s annual growth target.
In Fed news, Waller said that while the U.S. is “within reach” of the Fed’s 2% inflation target, the central bank should not rush into cuts from its benchmark interest rate until it is clear that lower inflation will be sustainable.
The dollar index, which measures the greenback against a basket of major currencies, was last at 103.32 after hitting 103.42 in the previous session, its highest level since the December 13. Tuesday also saw the dollar’s largest one-day percentage gain. since January 2.
