US dollar/dong exchange rate surges to start year

Analysts attributed the US dollar/dong exchange rate increase in January to the influence of the escalating developments of the greenback in the international market and an overly high gap between US dollar and dong interest rates. — Vietnam News

HANOI: The US dollar/Vietnam dong exchange rate has seen notable developments in the first month this year when it increased significantly in both official and free markets.

Specifically, the State Bank of Vietnam’s (SBV) central rate of the Vietnamese dong against the US dollar was adjusted up 0.7% in January 2024 to 24,036 dong per US dollar.