Dollar inches up against dong on black market

By Minh Hieu   May 5, 2024 | 08:40 pm PT
Dollar inches up against dong 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 while remaining steady at banks Monday morning.

The greenback is sold at VND25,790 on the black market, up 0.08% from the weekend.

Vietcombank's dollar selling rate remained steady at VND25,457.

The State Bank of Vietnam kept its reference rate unchanged at VND24,245.

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

Globally, the dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week, Reuters reported.

On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data.

The dollar index, which measures the U.S. currency against six rivals, was at 105.12, having touched a three week low of 104.52 on Friday.

The euro was up 0.07% at $1.0765, while the sterling was last at $1.2547, up 0.02% on the day.

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