USD climbs to new peak against dong

Created 22 September 2022
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The dollar rose to a new high of 23,840 dong Thursday morning, having gained over 4% this year against the Vietnamese currency as the U.S. continues to hike rates.
USD climbs to new peak against dong

State giants Vietcombank and BIDV sold the greenback at VND23,840, up 0.04% from Wednesday.

The State Bank of Vietnam (SBV) fixed its reference rate at VND23,316, up 0.64% from Wednesday and up 0.7% .

The USD Index, which measures the dollar against six major currencies, rose by 1.1% to 111.26 points Thursday morning, a 20-year high after the U.S. Federal Reserve increased its policy rates by 0.75% points for a third time in a row to control inflation.

The SBV has sold more than $20 billion from its reserves this year to steady the exchange rate, according to ACBS Securities, which said the reserves have fallen from $110 billion to below $90 billion.

Source: VNE

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