The U.S. dollar slid against the Vietnamese dong Monday morning while falling to a multi-year low against the Chinese yuan.
Vietcombank sold the greenback at VND26,200, down 0.04% over the weekend. The currency went up 0.23% to around VND260,000 on the black market.
The State Bank of Vietnam maintained its reference rate at VND25,637.
Globally, China’s yuan strengthened to more than a 3-1/2-year high against the U.S. dollar on Monday as the central bank softened its curb on currency appreciation ahead of the meeting this week between the leaders of China and the U.S., Reuters reported.
The yuan strengthened to a high of 6.6957 per dollar in early trade, the strongest level since Jan. 16, 2023. The offshore yuan traded at 6.6946 yuan per dollar, up about 0.03% in Asian trade.
Broader currency markets were largely muted as investors pondered the global interest-rate outlook after a wave of hikes from major central banks last week
The dollar index, which measures the greenback against six major peers, was steady at 100.23 after gaining more than 1% last week following a hawkish hike from the Federal Reserve.
The euro was steady at $1.1482. Sterling stood at $1.339 in early trading. The yen was slightly firmer at 156.64 per U.S. dollar after dropping 2% last week.
