Dollar gains over dong
The U.S. dollar strengthened against the Vietnamese dong on Monday morning as it edged higher against major peers.
Over the weekend, Vietcombank observed the dollar trading at VND26,100, marking an increase of 0.08% compared to the preceding day. Unofficial exchange points reported the Vietnamese dong hovering around VND26,000. The State Bank of Vietnam adjusted its reference rate by 0.02% downward, settling at VND25,633.
On the global stage, the US dollar exhibited a slight uptick, moving away from its lowest points of the month as unrest in France sparked turmoil in the euro currency. Reports from Reuters indicated the euro slipping by 0.1% to $1.1225 at the onset of Asian trading hours. The euro's decline played a role in stabilizing the dollar, which stabilized at 101.83 within the dollar index, a widely followed benchmark.
The dollar's strength against the yen remained unchanged at 158.00 yen, while the British pound held steady at $1.3329. Conversely, the Australian dollar showcased a modest gain of 0.3%, reaching $0.6965, whereas its New Zealand counterpart remained steady at $0.5656. Emerging market Asia, particularly Indonesia, drew attention following MSCI's potential downgrade of the country's stock market to standalone status, resulting in a 11.6% drop in equities.
The Indonesian rupiah succumbed to this pressure, reaching an all-time low of 18,000 against the dollar.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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