Dollar rises on black market

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.