Dollar drops on black market

By Dat Nguyen   April 22, 2024 | 08:50 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 against the Vietnamese dong on the black market but remained stable at banks Tuesday morning.

Unofficial exchange points sold the greenback at VND25,830, down 0.15% from Monday.

Vietcombank maintained its rate at VND25,488.

The State Bank of Vietnam hiked its reference rate by 0.06% to VND24,275.

The greenback has risen by 4.37% against the dong since the beginning of the year.

Globally a firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan's rate decision this week, Reuters reported.

The yen remained pinned after hitting 154.85 yen on Monday, its lowest level since the mid-1990s, as the stark U.S.-Japan rate differentials came into focus again amid an easing in Iran-Israel tensions. It last hovered around 154.76 per dollar.

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