Dollar inches up on black market

Unofficial exchange points sold the greenback at VND25,440, up 0.16% from Friday.

Vietcombank kept its rate steady at VND24,810.

The State Bank of Vietnam’s reference rate was stable at VND24,002.

The dollar went up 0.16% to VND25,440 on the black market.

It has increased against the dong by 1.60% since the beginning of the year.

Globally the dollar fell against the euro on Friday on weaker than expected U.S. economic data but gained against the Japanese yen after Bank of Japan (BOJ) governor Kazuo Ueda said it was too soon to declare victory on inflation, Reuters reported.

The dollar index fell 0.23% to 103.87. The euro gained 0.31% to $1.0837.

The dollar has been largely rangebound with traders focusing closely on economic data for any new clues on when the U.S. Federal Reserve is likely to begin cutting interest rates.