Dollar keeps rallying in Vietnam
The gaining U.S. dollar gets stronger Wednesday against the Vietnamese dong compared with Tuesday, with an additional VND100 or more to the uptrend.
A photo showing souvenir banknotes of $100 and $50. Photo courtesy of CNBC.
Vietcombank quoted in the morning its buying and selling rates at VND24,310 and VND24,620, increasing by 1.6% against Monday, the date the State Bank of Vietnam widened its trading band to 5% from 3%.
BIDV’s rates were VND24.350 and VND24.630, respectively. Other banks also hiked their rates.
For the first time in Vietnam, the U.S. dollar price exceeded VND24,700 on the free market Wednesday.
The U.S. Dollar Index, which measures the greenback’s strength against six major currencies, was at its highest level since 2002 of around 112 on Wednesday morning.
The U.S. dollar held close to a 32-year peak versus the yen on Wednesday while edging up from a two-week trough against a basket of major peers, underpinned by the prospect of aggressive U.S. Federal Reserve interest rate hikes, CNBC reported.
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