Dollar rises against dong on black market

By Minh Hieu   May 2, 2024 | 09:22 pm PT
Dollar rises against dong on black market
An employee of a bank counts U.S. dollar notes at a branch in Hanoi, Vietnam May 16, 2016. Photo by Reuters
The U.S. dollar increased slightly against the Vietnamese dong on the black market while remaining unchanged at banks Friday morning.

The greenback is sold at VND25,785 at unofficial exchange points, up 0.06%.

Vietcombank's dollar selling rate remained steady at VND25,453.

The State Bank of Vietnam (SBV)'s reference rate was unchanged at VND24,246.

The dollar has increased against the dong by 4.23% since the beginning of the year.

Globally, the yen was headed for its best week in more than a year on Friday, helped by Tokyo's suspected intervention this week to pull the Japanese currency away from 34-year lows, which also left the dollar broadly on the back foot, Reuters reported.

The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3%, its largest since December 2022. It was last more than 0.4% stronger at 152.96 per dollar.

Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week.

The euro ticked up 0.05% to last trade at $1.0730, and was eyeing a weekly gain of 0.35%.

Against a basket of currencies, the dollar, which has struggled to regain its footing in the wake of the less-hawkish-than-feared Fed comments, was little changed at 105.32.

The dollar index was on track to lose 0.7% for the week, its worst performance since March.

go to top