Dollar declines on black market

By Dat Nguyen   June 7, 2024 | 08:57 pm PT
Dollar declines on black market
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar fell against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the dollar 0.08% lower at VND25,680.

Vietcombank maintained its rate at VND25,453.

The State Bank of Vietnam (SBV)’s reference rate was unchanged at VND24,245.

The greenback has increased by 4.23% since the beginning of the year.

Globally the U.S. dollar rebounded on Friday after data showed the world's largest economy created a lot more jobs than expected last month, suggesting that the Federal Reserve could take time in starting its easing cycle this year, Reuters reported.

The dollar index, which tracks the currency's value against six major peers led by the euro, rose 0.8% to 104.91, its best daily gain since April 10.

For the week, the index was on track for a 0.2% gain, with the strong jobs number offsetting a run of weaker macro data that had earlier prompted investors to put two quarter-point Fed rate cuts back on the table in 2024.

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