Dollar falls against dong on black market

By Dat Nguyen November 8, 2024 | 09:52 pm PT

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters

The U.S. dollar dropped against the Vietnamese dong on the black market Saturday morning but rose among major peers.

The greenback was sold at VND25,620 at unofficial exchange points, down 0.70% from Friday. Vietcombank kept the dollar steady at VND25,470.

The State Bank of Vietnam let its reference rate slide by 0.02% to VND24,278.

The dollar has gained 4.8% against the dong since the beginning of the year.

Globally the dollar rose on Friday and was heading for a weekly gain as investors evaluated the likely impact on the American economy of Tuesday’s election of Republican Donald Trump as U.S. president, Reuters reported.

The dollar index jumped to a four-month high of 105.44 on Wednesday, but has dipped since, partly due to profit-taking. It was up 0.58% on the day at 105.01 on Friday and on pace for a 0.68% weekly increase.