Dollar rises on black market

By Dat Nguyen   March 3, 2023 | 10:10 pm PT
Dollar rises on black market
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar gained over the dong on the black market Saturday morning.

Unofficial exchange points sold the dollar 0.06% higher from Friday at VND23,780.

Vietcombank maintained the greenback at VND23,890.

Eximbank kept it unchanged at VND23,870. The rate at Techcombank increased by 0.04% to VND23,905.

The State Bank of Vietnam;s reference rate was steady at VND23,637.

On Friday the U.S. dollar slid from a 2-1/2-month high versus the Japanese yen, on track for its largest weekly loss since mid-January against a basket of six major currencies, as traders stepped back to gauge the path for Federal Reserve policy, Reuters reported.

Analysts said the market has for the most part priced in the prospect of a higher terminal fed funds rate after the recent run of upbeat U.S. economic data.

The yen, which is sensitive to U.S.-Japan long-term rate differentials, looked set to halt its six-week losing streak against the dollar, as it gained strength with 10-year U.S. yields retreating from a nearly four-month high close to 4.1%.


go to top