Dollar rises on black market

By Dat Nguyen   June 20, 2023 | 09:12 pm PT
Dollar rises 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 rose against the Vietnamese dong on the black market Wednesday morning.

Unofficial exchange points sold the greenback 0.13% higher at VND23,600.

Vietcombank maintained the dollar at VND23,690.

Eximbank sold it at VND23,670 and Techcombank VND23,694.

The State Bank of Vietnam raised its reference rate up 0.04% to VND23,727.

The dollar has decreased against the dong by 0.17% since the beginning of the year.

Globally the dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell's appearance before Congress later in the day, Reuters reported.

The greenback was marginally stronger at $1.0916 per euro overnight and steady early in the Asia session. The yen was also firm at 140.50 per dollar ahead of an appearance by Bank of Japan Governor Kazuo Ueda on Wednesday.

The Aussie and yuan were Tuesday's largest losers and were in no mood for a bounce early on Wednesday. China had cut rates by less than expected and while its post-COVID recovery stalls, hoped-for major stimulus is yet to arrive.

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