The U.S. dollar fell against the Vietnamese dong on the black market Friday morning and was set for a weekly loss against major currencies.
The greenback slid 0.1% to around VND26,681 at unofficial exchange points. Vietcombank kept its exchange rate at VND26,357, unchanged from Thursday.
The State Bank of Vietnam’s reference rate was stable at VND25,102.
Globally, the U.S. dollar was headed for a second consecutive weekly decline on Friday in tentative trade, as a ceasefire between Israel and Lebanon and prospects for fresh Iran talks prompted investors to unwind safe-haven positions, Reuters reported.
U.S. dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters |
The dollar index, which measures the greenback’s strength against six major peers, was steady at 98.212. It was on track for a second straight week of declines, giving up most of the gains sparked by the war, as ceasefire optimism continued to reduce demand for safe-haven assets.
Currencies were mostly rangebound in Asia trade as investors awaited further details, leaving the euro steady against the dollar at $1.1783. The common currency was on track for a third straight weekly gain, while sterling traded at $1.3526.
The Australian dollar fetched $0.7163, continuing to hover near four-year highs on buoyant risk sentiment. The kiwi traded 0.06% lower at $0.5888. Against the yen, the dollar rose slightly to 159.26.
“The markets are in a bit of a consolidation phase because they have already priced in some optimism about the ceasefire being extended earlier in the week,” said Sim Moh Siong, FX strategist at OCBC.
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