Dollar gains on black market

By Dat Nguyen   November 27, 2022 | 08:39 pm PT
Dollar gains on black market
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. Photo by Reuters/Kham
The U.S. dollar on Monday surged 0.28% to VND25,050 on the black market but fell at most banks.

Eximbank sold the dollar at VND24,848, down 0.02%, while Techcombank kept the rate unchanged at VND24,850.

Vietcombank, however, sold the dollar 0.4% higher at VND24,850 after keeping it at VND24,840 for three days in a row.

The State Bank of Vietnam (SBV) set its reference rate 0.008% lower at VND23,667.

The USD Index, which measures the greenback’s strength against major currencies, has been hovering around 106-107 points for a week.

The latest Covid-19 outbreaks in China have put a pause on the U.S. dollar's decline, which had been softening over the past few weeks on hopes that the Federal Reserve would soon slow its pace of rate hikes, Reuters reported.

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