Dollar inches up on black market

By Dat Nguyen   July 12, 2024 | 09:11 pm PT
Dollar inches up on black market
U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar rose against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback 0.14% higher at VND25,770.

Vietcombank lowered its rate by 0.004% to VND25,454.

The State Bank of Vietnam maintained its rate at VND24,248.

The dollar has risen 4.26% against the dong since the beginning of the year.

Globally the yen hit an almost four-week high against the U.S. dollar on Friday, raising speculation that Japanese authorities may have intervened for a second day to prop up the currency, Reuters reported.

The rally in the Japanese currency, which has been languishing at around 38-year lows, began on Thursday just after data showed U.S. consumer prices for June eased, boosting the odds of the Federal Reserve cutting rates as soon as September.

 
 
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