Dollar rises on black market

By Dat Nguyen   June 6, 2023 | 08:46 pm PT
Dollar rises on black market
U.S. dollar notes are seen at a Kasikornbank in Bangkok, Thailand, May 12, 2016. Photo by Reuters
The U.S. dollar rose against the Vietnamese dong on the black market Wednesday morning.

Unofficial exchange points sold the greenback at VND23,490, down 0.13%.

Most banks kept their rates stable.

Vietcombank sold the dollar at VND23,660, Eximbank VND23,630, and Techcombank VND23,660.

The State Bank of Vietnam raised its reference rate by 0.11% to VND23,720.

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

Globally the dollar edged lower on Wednesday as traders assessed the odds of a rate hike by the Federal Reserve next week, while the Aussie scaled a fresh three-week high in the wake of a rate increase and a decidedly hawkish stance by its central bank, Reuters reported.

In the broader currency market, the U.S. dollar dipped in early Asia trade, as traders pared back their expectations of a rate hike at next week’s FOMC meeting.

The Australian dollar peaked at $0.6690 in early Asia trade, its highest since mid-May, buoyed by lingering effects of the Reserve Bank of Australia’s (RBA) quarter-point interest rate increase to an 11-year high on Tuesday.

Against the greenback, sterling rose 0.08% to $1.2432, while the kiwi gained 0.08% to $0.6084.

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