Dollar gains on black market

By Dat Nguyen   January 6, 2023 | 09:53 pm PT
Dollar gains 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 0.25% to VND23,740 against the Vietnamese dong on the black market Saturday morning.

Vietcombank, Techcombank and others kept the rate unchanged from Friday.

The State Bank of Vietnam maintained its reference rate at VND23,605.

The dollar’s index hovered at around 103.91 points.

Friday's data showed the United States added 223,000 jobs in December, down from November's 263,000 pace, but above the 200,000 jobs forecast by economists, and still about double the level the Fed considers sustainable.

"While the softening trend is clear, and the momentum of hiring is slowing in a significant way, it is equally clear that we are far from what could be described as a demand-reducing weakening of labor and wage conditions," said Rick Rieder, chief investment officer of global fixed income at BlackRock.

Fed policymakers also had a decidedly more sober take on Friday's data.

Atlanta Fed President Raphael Bostic said he expects the policy rate this year to get to the range just above 5.00%, and to stay there until "well" into 2024.

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