By Minh Hieu April 25, 2024 | 10:23 pm PT
An employee counts US banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The US dollar decreased slightly against the Vietnamese dong Friday morning.
Vietcombank sold the dollar at VND25.458, down 0.07% from the previous day.
The greenback was stable at VND25,700 on the black market.
The State Bank of Vietnam (SBV) kept its reference rate steady at VND24.246.
It has increased against the dong by 4.25% since the beginning of the year.
Globally, gold price struggles to capitalize on the previous day’s modest gains and oscillates in a narrow range during the Asian session on Friday amid mixed fundamental cues, FXStreet reported.
Gold rose 0.05% to $2,332.91 an ounce.
The US GDP report released on Thursday pointed to a significant loss of growth momentum at the start of 2024 and an unwelcome pickup in inflation.
This, along with the subdued US Dollar (USD) price action, acts as a tailwind for the precious metal, which is considered as a hedge against inflation.
The upside, however, remains capped in the wake of hawkish Federal Reserve (Fed) expectations.
Tags: Dollar weakens dong VnExpress International
