Dollar weakens on black market

By Dat Nguyen   June 5, 2024 | 09:59 pm PT
Dollar weakens 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 fell on the black market Thursday morning.

Unofficial exchange points sold the greenback at VND25,680, down 0.08% from Wednesday.

Vietcombank kept its rate unchanged at VND25,453.

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

The greenback declined by 0.08% to VND25,680 on the black market.

It has gained over the dong by 4.23% since the beginning of the year.

Globally the euro firmed a touch on Thursday ahead of a policy decision from the European Central Bank (ECB) where traders consider a rate cut all but certain, while the dollar eased on renewed bets of a U.S. Federal Reserve easing cycle expected this year, Reuters reported.

The Canadian dollar edged slightly higher, trimming some losses from the previous session, after the Bank of Canada became the first G7 country to cut its key policy interest rate as widely expected. It was last at C$1.3687 per dollar.

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