Dollar inches down on black market

By Minh Hieu   February 29, 2024 | 10:19 pm PT
Dollar inches down 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 declined against the Vietnamese dong on the black market while it remained steady at banks on Friday.

It slid 0.12% to VND25,400 on the black market.

Vietcombank sold the dollar at VND24,820, the same as Thursday.

The State Bank of Vietnam (SBV) also kept its reference rate unchanged at VND24,002.

The dollar has increased against the dong by 1.64% since the beginning of the year.

Globally, the dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level, Reuters reported.

Bitcoin's blistering rally took a breather and was last at $61,622, near a more than two year high and within range of the record high.

The dollar index , which measures the U.S. currency against six rivals, was at 104.11 after a volatile overnight session following the inflation report.

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