Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters
The U.S. dollar gained marginally against the dong on the last day of 2024, closing the year 4.5% higher.
Vietcombank sold the dollar 0.03% higher at VND25,551 on Tuesday morning.
The State Bank of Vietnam raised its reference rate by 0.03% to VND24,335.
On the black market the dollar was steady around VND25,850.
The central bank sold around $9.4 billion worth of the greenback this year and now has roughly $80 billion in foreign exchange reserve, according to estimates by RongViet Securities Corporation.
It has moved the reference rate up by around 1.9% from the beginning of the year.
Globally the dollar was firm on the last trading day of the year, poised to clock strong gains in 2024 against most currencies as investors prepared for fewer U.S. rate cuts and the incoming Trump administration’s policies, Reuters reported.
The dollar’s ascent, buoyed by rising Treasury yields, has pushed the yen toward its lowest levels since July, when the Japanese authorities last intervened.
On Tuesday, it was at 157.02 per dollar, on course for a 10% drop in 2024, its fourth straight year of decline against the dollar.
The dollar index, which measures the U.S. currency versus six other major units, stood at 108.06, not far from the two-year high it touched this month.
The index has risen 6.6% in 2024 as traders cut back on bets of deep rate cuts next year.
