Dollar slips against dong
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The U.S. dollar fell against the Vietnamese dong Tuesday morning.
Vietcombank sold the dollar at VND25,468, down 0.05% from Monday.
The State Bank of Vietnam kept its reference rate stable at VND24,245.
The greenback went up 0.27% to VND25,840 on the black market.
It has increased against the dong by 4.29% since the beginning of the year.
The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook.
Currency moves were largely subdued in early Asia hours after a quiet overnight session due to holidays in Britain and the United States, but the overall mood was positive with world shares firming.
The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank (ECB) policymakers on Monday and data showing German business morale stagnated in May.
Questions & Answers
Q.What was the official exchange rate for the US dollar against the Vietnamese dong on Tuesday?
What was the official exchange rate for the US dollar against the Vietnamese dong on Tuesday?
Vietcombank sold the dollar at VND25,468 on Tuesday morning, representing a 0.05% decrease from Monday's rate. The State Bank of Vietnam maintained its reference rate at VND24,245.
Q.How has the dollar performed against the Vietnamese dong overall this year?
How has the dollar performed against the Vietnamese dong overall this year?
Since the beginning of the year, the US dollar has increased against the Vietnamese dong by 4.29%. This indicates a strengthening trend for the dollar over the longer term.
Q.What factors influenced the dollar's performance on Tuesday?
What factors influenced the dollar's performance on Tuesday?
The dollar waned on Tuesday due to a slight pick up in risk appetite. However, it held tight ranges against other currencies, as markets awaited key inflation data for guidance on interest rates.
Q.Was there any significant currency movement in Asia early on Tuesday?
Was there any significant currency movement in Asia early on Tuesday?
Currency moves were largely subdued in early Asia hours. This followed a quiet overnight session, partly due to public holidays observed in both Britain and the United States, limiting trading activity.
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