Dollar slips against dong on black market

By Dat Nguyen   May 31, 2024 | 10:07 pm PT
Dollar slips against dong on black market
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar fell slightly against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback 0.04% lower at VND25,855.

Vietcombank kept its rate unchanged at VND25,474.

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

The dollar has gained over the dong by 4.32% since the beginning of the year.

Globally the dollar was lower on Friday and on track for its first monthly decline in 2024 after data showed U.S. inflation rose in line with expectations in April, offering little clarity on how soon the U.S. Federal Reserve will be able to cut interest rates, Reuters reported.

The U.S. dollar index was last down 0.12% at 104.64.

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