Dollar gains little against dong
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The U.S. dollar rose against the Vietnamese dong Wednesday morning.
Vietcombank sold the dollar at VND24,450, up 0.08% from Tuesday.
The State Bank of Vietnam raised its reference rate by 0.10% to VND23,951.
The greenback went up 0.08% to VND24,700 on the black market.
It has increased against the dong by 3.03% since the beginning of the year.
Globally, the dollar was near a two-week high against a basket of currencies on Wednesday as investors assessed U.S. economic data that showed a cooling labour market, while wagering the Federal Reserve will cut rates next year.
The dollar index, which measures the U.S. currency against six rivals, was 0.019% higher at 103.99, having climbed 0.3% overnight. The index is up 0.5% this month, after sliding 3% in November, its steepest monthly decline in a year.
The euro was at $1.0795, having dropped to three-week low of $1.07785 on Tuesday.
Sterling was last at $1.2601, up 0.06% on the day. The Japanese yen strengthened 0.03% to 147.12 per dollar.
Questions & Answers
Q.How much has the U.S. Dollar gained against the Vietnamese dong this year?
How much has the U.S. Dollar gained against the Vietnamese dong this year?
The U.S. Dollar has increased against the Vietnamese dong by 3.03% since the beginning of the year. On Wednesday morning, Vietcombank sold the dollar at VND24,450, up 0.08% from Tuesday.
Q.What is the current value of the dollar index, and how has it performed recently?
What is the current value of the dollar index, and how has it performed recently?
The dollar index is currently at 103.99, showing a 0.019% increase. It climbed 0.3% overnight and is up 0.5% this month, following a 3% decline in November, which was its steepest monthly drop in a year.
Q.Why are investors anticipating interest rate cuts from the Federal Reserve next year?
Why are investors anticipating interest rate cuts from the Federal Reserve next year?
Investors are wagering the Federal Reserve will cut rates next year after assessing U.S. Economic data. This data indicated a cooling labour market, which often influences central bank decisions on interest rates.
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