Dollar dips slightly against dong
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The U.S. dollar slipped marginally against the Vietnamese dong Wednesday morning.
Vietcombank sold the dollar at VND23,670, down 0.08% from Tuesday.
The rate at Techcombank was at VND23,695, down 0.02%.
Eximbank sold the greenback 0.08% higher at VND23,680.
The State Bank of Vietnam set its reference rate at VND23,603, down 0.01%.
Most unofficial exchange points maintained the rate at VND23,800, same as Tuesday.
The U.S. dollar index rose 1% on Tuesday to 104.73, mostly due to the euro’s drop, and it eased a little on Wednesday to 104.47.
Headline German CPI fell to an annual 8.6% in December, from 10% the previous month, against expectations for 9.1%, data on Tuesday showed, knocking the euro and rallying bunds.
The euro had lost 1% overnight, its sharpest drop in more than two months, following a larger-than-expected drop in German inflation, but it edged up from three-week lows to $1.0566 in Asia trade.
Questions & Answers
Q.How did the dollar perform against the dong at different Vietnamese banks?
How did the dollar perform against the dong at different Vietnamese banks?
Vietcombank sold the dollar at VND23,670, a 0.08% decrease from Tuesday. Techcombank saw a 0.02% dip to VND23,695. Eximbank's rate, however, was up 0.08% at VND23,680.
Q.What was the State Bank of Vietnam's reference rate for the dollar?
What was the State Bank of Vietnam's reference rate for the dollar?
The State Bank of Vietnam set its reference rate for the dollar at VND23,603 on Wednesday. This figure represented a slight decrease of 0.01%.
Q.What was the trend for the U.S. Dollar index around the same time?
What was the trend for the U.S. Dollar index around the same time?
The U.S. Dollar index rose 1% on Tuesday, reaching 104.73, primarily due to the euro's drop. It then eased slightly on Wednesday to 104.47.
Q.What was the main reason for the euro's decline and subsequent slight recovery?
What was the main reason for the euro's decline and subsequent slight recovery?
The euro dropped due to a larger-than-expected fall in German inflation to 8.6% in December. It then edged up from three-week lows to $1.0566 in Asia trade.