Dollar drops on black market

By Dat Nguyen   August 11, 2023 | 10:18 pm PT
Dollar drops 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 marginally against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback at VND23,770, down 0.19% from Friday.

Vietcombank kept its rate stable at VND23,910.

The State Bank of Vietnam’s reference rate was stable at VND23,837.

The dollar has increased over the dong by 0.76% since the beginning of the year.

Globally the dollar rose on Friday after a slightly bigger increase in U.S. producer prices in July lifted Treasury yields higher even as speculation grows that the Federal Reserve is at the end of hiking interest rates, Reuters reported.

The dollar index , a measure of the greenback against six peers, rose 0.21% as it headed to a fourth straight week of gains, up about 2.9% after bouncing off a 15-month low in mid-July on signs of a resilient U.S. labor market.

The stronger dollar led the yen to briefly touch 145.03 in late afternoon trade, its highest since June 30.

The dollar was last at 144.95 yen, up 0.15% on the day.

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