A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey Nov. 11, 2021. Photo by Reuters
Vietcombank sold the greenback at VND26,461, up 0.03% over the weekend. The currency dropped 0.56% to around VND26,720 on the black market.
The State Bank of Vietnam lowered its reference rate by 0.02% to VND25,201.
Globally, the U.S. dollar was on the defensive on Monday but remained on track for its biggest monthly gain in nearly a year, due to tension in the Gulf and ahead of jobs data that could shape the Federal Reserve’s rate path, Reuters reported.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was a shade higher at 101.36, on track for a 2.5% gain for June, which marks the biggest monthly advance since July last year.
The euro was flat at $1.1387 after hitting a 13-month low against the dollar last week, and was on track for a 2.3% monthly decline. Sterling traded 0.1% lower at $1.3198 and was down 2% for the month.
The Japanese yen last traded at 161.75, continuing to languish near a 40-year low.
“We expect the USD to grind higher in coming weeks because of the ‘US exceptionalism’ narrative,” Joseph Capurso, head of foreign exchange at Commonwealth Bank of Australia, said in a note.
A strong and improving labor market is a recipe for higher U.S. interest rates and the dollar, he said.
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