Dollar gains on black market

By Dat Nguyen   April 26, 2024 | 09:20 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 0.25% higher than Friday at VND25,695.

Vietcombank's dollar selling rate remained stable at VND25,458 on Saturday, unchanged from Friday.

The State Bank of Vietnam’s reference rate was unchanged at VND24,246.

The dollar has increased against the dong by 4.25% since the beginning of the year.

Globally the dollar surged to a fresh 34-year high against the yen on Friday, bolstered in part by U.S. inflation data that showed no signs of easing, coming in line with forecasts and affirming expectations that the Federal Reserve will likely delay cutting interest rates to later this year, Reuters reported.

The dollar hit 157.795 yen, the highest since June 1990.

Sterling steadied on Friday after rising to a two-week high against the dollar as markets awaited for key U.S. inflation data for clues on the Federal Reserve's next moves.

Against the closely watched declining yen, sterling rose to its highest level in almost 16 years.

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