Dollar gains at banks, falls on black market

By Dat Nguyen   March 6, 2024 | 08:48 pm PT
Dollar gains at banks, falls 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 slightly against the Vietnamese dong at banks Thursday morning but plunged on the black market.

Vietcombank sold the dollar at VND24,870 Thursday, up 0.04% from Wednesday.

The State Bank of Vietnam’s reference rate was stable at VND24,017.

The dollar fell 1.05% to VND25,350 on the black market.

It has increased against the dong by 1.84% since the beginning of the year.

Globally the dollar index and the 10-year U.S. Treasury yield dropped to a more-than-1-month low of 103.31 on Wednesday. Powell said that while continued progress on inflation "is not assured," the Fed still expects to reduce its benchmark interest rate later this year.

It dropped to 103.25 at 11:33 a.m.

The Japanese currency rallied more than 0.5% to a high of 148.56 per dollar, and likewise made gains against the euro and the Aussie.

The euro was last 0.52% lower at 161.98 yen, while the Australian dollar fell 0.44% to 97.64 yen.

go to top