Dollar decreases slightly on black market

By Minh Hieu   March 12, 2024 | 08:56 pm PT
Dollar decreases 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 against the Vietnamese dong at banks but declined on the black market on Wednesday morning.

Vietcombank sold the dollar at VND24,820, up 0.08% from the previous day.

Meanwhile, the greenback is sold at VND25,550 on the black market, down 0.20%.

The State Bank of Vietnam (SBV) raised its reference rate by 0.01% to VND23,957.

From the year to date, the dollar has increased against the dong by 1.64%.

Globally, the U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting.

The dollar index, which measures the greenback against a basket of peer currencies, was little changed at 102.91.

Against the yen, the dollar eased 0.15% to 147.43, giving the Japanese currency some relief after it saw its biggest fall in a month on Tuesday following Bank of Japan Governor Kazuo Ueda's slightly bleaker assessment of the nation's economy.

The euro was mostly flat at $1.0925, and so was sterling at $1.2793.

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