Dollar inches up on black market

By Dat Nguyen   June 8, 2023 | 10:12 pm PT
Dollar inches up on black market
U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Photo by Reuters/Dado Ruvic
The U.S. dollar gained against the Vietnamese dong on the black market Friday morning.

Unofficial exchange points sold the greenback at VND23,520, up 0.13% from Thursday.

Most banks kept the exchange rate unchanged.

Vietcombank sold the dollar at VND23,660 for the third straight day.

Eximbank sold it at VND23,650, and Techcombank VND23,657.

The State Bank of Vietnam raised its reference rate by 0.01% to VND23,717.

The dollar has decreased against the dong by 0.29% since the beginning of the year.

Globally the dollar retreated on Friday, dragged by lower U.S. Treasury yields after a spike in weekly jobless claims raised traders’ hopes that a peak in U.S. interest rates was near, as focus turned to the upcoming week packed with central bank meetings, Reuters reported.

The dollar index last stood at 103.35 in early Asia trade on Friday, having lost more than 0.7% in the previous session, its largest daily decline in weeks.

Against the Japanese yen, the greenback dipped to a one-week low of 138.765, tracking a slide in U.S. Treasury yields.

The benchmark 10-year Treasury yield last stood at 3.7295%, after falling 7 basis points on Thursday. The two-year yield, which typically moves in step with interest rate expectations, steadied at 4.5210%.

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