Dollar slightly inches up on black market

By Phan Anh February 26, 2023 | 04:32 am PT

U.S. dollar cash notes. Illustration photo by Pixabay

The U.S. dollars goes up by 0.1% against the Vietnamese dong on Sunday, but remained stable at banks.

Unofficial exchange points sold the greenback at VND23,885, up 0.1% from Saturday.

Vietcombank kept the rate unchanged at VND23,970. Eximbank sold the greenback at VND23,940, the same as Saturday. The rate at Techcombank is VND23,970, and at ACB is VND24,100, also the same.

The USD/VND exchange rate has increased by 1.01% since the beginning of the year.

The State Bank of Vietnam (SBV)’s reference rate maintains at VND23,642.

Some of the world’s top investors are betting the worst of the dollar’s rampage is over after the surge upended the global economy in ways that had few parallels in modern history, according to Bloomberg.

Investors say the dollar is on the way down because the bulk of Federal Reserve rate increases is over, and virtually every other currency will strengthen as their central banks keep tightening.