Dollar inches up over dong on black market

By Dat Nguyen   June 17, 2024 | 08:37 pm PT
Dollar inches up over dong on black market
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 rose against the Vietnamese dong on the black market Tuesday but remained steady at banks.

Unofficial exchange points sold the greenback at VND25,850, up 0.15% from Monday. The greenback was steady at VND25,471 at Vietcombank.

The State Bank of Vietnam’s reference rate was unchanged at VND24,259. The dollar has risen 4.22% since the beginning of the year.

Globally the dollar drifted lower on Tuesday, extending the previous day's losses against the euro and sterling, as market jitters over the risks of a far-right French government receded, Reuters reported.

The U.S. currency failed to get a lift from a rise in Treasury yields overnight, with investors awaiting a key retail sales report and comments from Federal Reserve officials to better gauge the timing and pace of interest rate cuts.

The U.S. dollar index, which measures the currency against the euro, sterling and four other major peers, edged slightly lower to 105.26 in early Asian trading hours, continuing its retreat from Friday's 1 1/2-month high of 105.80.

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