Dollar-Dong Exchange Rate Slightly Increases Wednesday

One dollar was sold at VND16,075-16,085 on the free market early Wednesday morning, a slight increase of VND5 over the previous day .

Some observers said the market will continue witnessing a rise in demand for the US dollar as local importers will need the foreign currency to pay for imports by the end of this year.

Many investors predict that the US Federal Reserves will maintain its current high interest rate on the US dollar in a bid to catalyze the market’s recovery.

The global gold price was down US$10 an ounce from Tuesday, halting at US$572 early Wednesday. In the domestic free market, the gold price was set at VND11,67-11.72 million a tael, increasing by VND50-60,000 per tael.

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By H.Kh – Translated by Trong Khuong

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