Dollar ups on black market

By Dat Nguyen February 17, 2023 | 08:04 pm PT

U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. Photo by Reuters/Jose Luis Gonzalez

The U.S. dollar went up against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback at VND23,810, up 0.53% from Friday.

Eximbank sold the greenback at VND23,980, up 0.84%.

The rate at Techcombank is VND24,010, up 0.06%.

Vietcombank maintained its rate at a 10-month high of VND23,980.

The State Bank of Vietnam adjusted its reference rate up 0.01%. to VND23,639.

The dollar has gained over the dong by 1.05% since the beginning of the year.

Globally the dollar edged lower against the euro and sterling on Friday, as the market readjusts ahead of the long weekend and awaits clues on how the Federal Reserve plans to continue tackling still-high inflation, Reuters reported.

Several Federal Reserve officials signaled this week that the U.S. central bank likely has to raise interest rates higher to bring inflation back to its desired levels. That hawkish speak coupled with hotter-than-expected economic data has led some banks to forecast three additional rate hikes this year.

Goldman Sachs said it is expecting the Fed to hike rates three more times by a quarter of a percentage point each time, after data this week pointed to persistent inflation and resilience in the labor market.