Dollar gains on black market

By Dat Nguyen   May 5, 2023 | 10:14 pm PT
Dollar gains 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 on the black market Saturday morning.

Unofficial exchange points sold the greenback 0.06% higher than Friday at VND23,465.

Vietcombank kept the dollar firm at VND23,620.

Eximbank maintained the greenback at VND23,600. Techcombank raised its rate by 0.02% to VND23,625.

The State Bank of Vietnam (SBV) maintained its reference rate is at VND23,622.

The dollar has depreciated against the dong by 0.46% since the beginning of the year.

Globally, on Friday the dollar gave back earlier gains against the euro but stayed stronger against the yen after jobs gains and wage growth for April beat economists’ forecasts but showed downward jobs revisions for March, Reuters reported.

Employers added 253,000 jobs, beating economists' forecasts for a 180,000 gain. U.S. average hourly earnings rose at an annual rate of 4.4%, above expectations for a 4.2% increase.

But data for March was also revised lower to show 165,000 jobs added instead of 236,000 as previously reported.

The dollar index hit a session high of 101.77, before falling back to 101.19, down 0.13% on the day. The euro fell to $1.0967, before bouncing back to $1.1026, up 0.11%.

The greenback gained 0.40% to 134.79 Japanese yen.

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