Dollar rises at banks

By Dat Nguyen   March 23, 2023 | 08:36 pm PT
Dollar rises at banks
A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. Photo by Reuters/Yuriko Nakao
The U.S. dollar gained marginally at banks but dropped on the black market Friday morning.

Vietcombank sold the dollar at VND23,680, up 0.04% from Thursday.

Techcombank raised its rate by 0.06% to VND23,685. Eximbank maintained the dollar at VND23,740.

The State Bank of Vietnam lowered its reference rate by 0.06% to VND23,600.

The dollar was sold at VND23,530 on the black market, down 0.17%.

It has gained over the dong by 0.21% since the beginning of the year.

Globally the dollar was steady on Friday near seven-week lows as nervousness over the banking system kept investors skittish and traders absorbed the Federal Reserve’s hints of a pause to interest rate hikes, Reuters reported.

The dollar index, which measures the currency against six major rivals, fell 0.019% at 102.56, just above the seven-week low of 101.91 it touched on Thursday. The index eked out a small gain on Thursday, its first in six trading days.

The Fed on Wednesday raised interest rates by 25 basis points, as expected, but took a cautious stance on outlook because of banking sector turmoil.

U.S. Treasury Secretary Janet Yellen on Thursday reiterated that she was prepared to take further action to ensure that Americans’ bank deposits stayed safe, in a bid to calm investor nerves.

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