US dollar bills. Photo by Unsplash/Andrew Dawes
The U.S. dollar rose against the Vietnamese dong Thursday morning, but declined against the Indian rupee and the Japanese yen.
Vietcombank sold the greenback 0.04% higher at VND26,270. On the black market the dollar dropped 0.42% to VND25,870.
Globally, the Indian rupee is set to add to its recent rally on Thursday after a massive $127 billion mobilization through foreign-currency non-resident bank deposits far exceeded market expectations, bolstering the central bank’s capacity to support the currency, Reuters reported.
The rupee is expected to open in the 94.30 to 94.35 range against the U.S. dollar, per traders, having settled at 94.97 on Wednesday.
The yen extended gains after a sudden burst higher in the previous session, though traders stopped short of attributing the move to Japanese authorities and instead pointed to a hawkish repricing of domestic rate expectations.
The yen rose to an intraday peak of 157.95 per dollar in Asia, extending its 0.9% jump overnight that initially put markets on alert for any official intervention from Tokyo, though the scale and fleeting nature of the move suggested otherwise.