Dollar dips on black market

By Dat Nguyen   June 25, 2023 | 08:12 pm PT
Dollar dips 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 fell against the Vietnamese dong on the black market Monday morning.

Unofficial exchange points sold the greenback 0.06% lower to VND23,610.

Vietcombank raised the dollar 0.02% to VND23,695.

Eximbank maintained it at VND23,670.

The State Bank of Vietnam kept its reference rate unchanged VND23,755.

The dollar decreased against the dong by 0.15% since the beginning of the year.

Globally the dollar held near a one-week high against its major peers on Monday as traders weighed the impact of protracted monetary tightening cycles on the global growth outlook and as worries over a deep downturn in major economies lingered, Reuters reported.

Investors were also on guard after dramatic weekend events in Russia, though reaction in the currency market was subdued as they assessed the implications of the aborted mutiny.

The euro was nursing its losses from last week and was last up 0.07% at $1.0902 in Asia trade.

The single currency had fallen to a one-week low on Friday after data showed that euro zone business growth virtually stalled in June amid a deepening downturn in manufacturing activity and a slow expansion of the bloc's dominant services industry.

Sterling rose 0.1% to $1.27285, reversing some of its 0.8% fall last week after an outsized 50-basis-point rate increase from the Bank of England stoked fears of a British recession.

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