Dollar inches down on black market

By Minh Hieu   March 17, 2024 | 09:52 pm PT
Dollar inches down on black market
U.S. banknotes seen in an illustration. Photo by Pixabay
The U.S. dollar fell slightly against the Vietnamese dong on the black market while remaining steady at banks Monday morning.

Vietcombank sold the dollar at VND24,890, unchanged from Sunday.

The greenback slid 0.43% to VND25,530 at unofficial exchange points.

The State Bank of Vietnam (SBV)’s reference rate is at VND23,994, up 0.06%.

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

Globally, the dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the Bank of Japan seemingly on the brink of ending negative rates and the focus on how many rate cuts the Federal Reserve projects, Reuters reported.

The Japanese yen weakened 0.13% to 149.22 per dollar to its lowest in more than a week, but it is still up 0.5% in March against the greenback.

The euro was down 0.04% to $1.0883, while the sterling was last trading at $1.2729, down 0.08% on the day ahead of the Bank of England meeting on Thursday when the central bank is expected to stand pat on rates.

The dollar index , which measures the U.S. currency against six rivals including the euro and yen, was at 103.48, having risen to 103.50, its highest since March 6 ahead of the Fed's meeting this week.

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