Dollar gains on black market

By Dat Nguyen   March 15, 2024 | 09:57 pm PT
Dollar gains on black market
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong on the black market Saturday morning.

It went up 0.31% from Friday to VND25,640 at unofficial exchange points.

Vietcombank kept its rate unchanged at VND24,890.

The State Bank of Vietnam (SBV)’s reference rate was stable at VND23,979.

It went up 0.31% to VND25,640 on the black market.

It has increased by 1.92% against the dong since the beginning of the year.

The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the U.S. economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the planned number of rate cuts this year, Reuters reported.

The dollar index, which tracks the U.S. currency against six major peers, was on pace to post a weekly gain of 0.7%, the largest since mid-January. The index was last flat at 103.43.

The dollar continued to rise against the yen, up 0.5% at 149.02 . On the week, the greenback rose 1.3%, on track for its biggest gain since mid-January.

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