Dollar rises on black market

By Dat Nguyen   June 21, 2024 | 10:11 pm PT
Dollar rises on black market
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar rose against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback 0.23% higher at VND25,900.

Vietcombank kept its rate stable at VND25,468.

The State Bank of Vietnam’s reference rate was unchanged at VND24,245.

The dollar has gone up by 4.29% since the beginning of the year.

Globally the dollar edged higher against other major currencies on Friday, hitting a fresh eight-week high against the yen as data showed a strong U.S. economy and as the Federal Reserve's patient approach to interest-rate cuts stood in contrast to more dovish peers, Reuters reported.

The dollar index, which measures the currency against six others, was up 0.2% at 105.81 in New York afternoon trading.

It had spiked 0.41% overnight, erasing declines for the week, following a second successive rate cut at the Swiss National Bank and hints from the Bank of England of a reduction in August.

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