Dollar drops against dong on black market

By Dat Nguyen November 15, 2024 | 09:32 pm PT

A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters

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

The greenback dropped 0.04% to VND25,709 at unofficial exchange points.

Vietcombank kept the rate unchanged at VND25,512.

The State Bank of Vietnam raised its reference rate by 0.03% to VND24,298.

Globally the U.S. dollar was set for its biggest weekly gain in over a month on Friday, as markets reassessed expectations of future interest rate cuts and with the view that President-elect Donald Trump's policies could be inflationary, Reuters reported.

The greenback was set to notch a weekly gain against the Japanese yen after it traded above 156 yen this week for the first time since July. It was last down 1.4% to 154.145 per dollar.

The euro was headed for the second straight week of losses after slumping to its lowest level since October 2023. It was last up at $1.054025.