Dollar dips against dong on black market

By Dat Nguyen March 14, 2025 | 09:12 pm PT

A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey Nov. 11, 2021. Photo by Reuters

The U.S. dollar fell against the Vietnamese dong Saturday morning on the black market.

Unofficial exchange points sold the greenback at VND25,820, down 0.08% from Friday.

Vietcombank maintained its rate at VND25,710.

The State Bank of Vietnam kept its reference rate unchanged at VND24,779.

The dollar has gained over the dong by 0.62% since the beginning of the year.

Globally the euro rose on Friday after German parties agreed on a fiscal deal that could boost defence spending and revive growth in Europe's largest economy, Reuters reported.

The dollar weakened against the euro but rose against the Swiss franc and the yen, underpinned by the likelihood the U.S. government will avert a shutdown over the weekend, extending gains as data showed inflation expectations picked up, suggesting the Federal Reserve will likely be patient in cutting interest rates.

The euro rose 0.27% to $1.087625. Against the pound, the euro gained 0.48% to 84.105 pence and rose 0.62% to 0.96260 against the Swiss franc. It is on track for a second straight week of gains against the dollar, pound, and the franc.