Dollar increases slightly on black market

By Hoang Phong   January 19, 2023 | 10:53 pm PT
Dollar increases slightly 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 slightly against the Vietnamese dong on the black market Friday morning.

Unofficial exchange points sold the dollar at VND23,490, up 0.09% from Thursday.

The greenback, however, remained steady at banks. Vietcombank kept its rate unchanged at VND23,620.

Eximbank sold the greenback at VND23,640, while the rate at Techcombank is VND23,635, and at ACB is VND23,700.

The USD/VND exchange rate has decreased by 0.46% since the beginning of the year.

The State Bank of Vietnam (SBV)’s reference rate remained unchanged at VND23,605.

Globally, the U.S. dollar loitered around its seven-month lows on Friday amid fears of an economic slowdown, Reuters reported.

The dollar index, which measures the greenback’s strength against major currencies, rose 0.098% to 102.12, not far off the seven-month low of 101.51 it reached on Wednesday.

The index is down 1.3% this year after sinking 7.7% in the last three months of 2022 as investors expected the Federal Reserve will slow the pace of its interest rate rises.

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