An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar declined against the Vietnamese dong on Friday morning while heading for its first weekly loss in five weeks in global markets.
Vietcombank sold the greenback at VND26,060, down 0.11% from Thursday morning. At unofficial exchange points, the currency held firm at VND26,050.
The State Bank of Vietnam lowered its reference rate by 0.02% to VND25,637.
Globally, the dollar limped towards its first weekly loss in five weeks as lower US yields eroded the currency’s appeal, Reuters reported.
The dollar index languishing near 102 following a sharp pullback from Wednesday’s 1-1/2-year high near 103. The index is down 0.2% for the week.
The euro pulled itself up from as low as $1.1113 on Wednesday to sit at $1.1217 on Friday. Sterling was steady at $1.3278 following a 0.6% jump on Thursday. The dollar was little changed at around 158 yen.
Investors will be focusing on Fed Chair Warsh’s fireside chat at the International Monetary Fund-World Bank meetings in Bangkok for clues on the US monetary policy path.