Dollar gains against dong on black market

By Dat Nguyen October 18, 2024 | 11:35 pm PT

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters

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

The dollar went up 0.04% to VND25,350 at unofficial exchange points.

Vietcombank maintained its rate at VND25,340, hovering around a 10-week high.

The State Bank of Vietnam kept its reference rate unchanged at VND24,213.

The dollar has risen against the dong by 3.68% since the beginning of the year.

Globally the greenback fell on Friday, taking a breather after five straight days of gains, as risk appetite increased following yet another round of stimulus measures from China that bolstered global equities led by Chinese stocks, Reuters reported.

The dollar index, measuring the U.S. unit's value against six major currencies, however, was on track for its third weekly gain, currently up 0.6% this week. It has risen about 2.7% so far this month, its largest monthly gain since February 2023.