An employee counts U.S. banknotes at a bank in Hanoi. Photo by Read/Giang Huy
The U.S. dollar declined slightly against the Vietnamese dong Monday morning while trading at a three-month high against the Japanese yen.
Vietcombank sold the dollar at VND25,464, down 0.01% from the weekend.
The greenback surged by 0.8% to VND25,700 on the black market.
The State Bank of Vietnam reduced its reference rate by 0.01% to VND24,252.
Since the beginning of the year, the dollar has increased by 4.27% against the dong.
Globally, the yen sank to a three-month low on Monday as investors figured the loss of a parliamentary majority for Japan’s ruling coalition in weekend elections would slow future rate rises, while the dollar headed for a monthly gain on rising U.S. yields, Reuters reported.
In the Asia session, the yen dropped 1% to 153.84 per dollar, its weakest since late July.
Elsewhere, the dollar was pushing higher and on course for its largest monthly rise in 2-1/2 years as signs of strength in the U.S. economy and bets on Donald Trump winning the presidency lifted U.S. yields.
At $1.0791, the euro was steady but down more than 3% on the month. Sterling bought $1.2952 and a 3.1% drop through October so far.
The U.S. dollar index, which measures the greenback against a basket of currencies, has climbed 3.6% to 104.49 during October, its sharpest monthly rise since April 2022.
The 1-month non-deliverable forward indicated that the rupee will open nearly flat from 84.08 in the previous session, hovering near a record low of 84.0825.
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