Dollar rises on black market

By Dat Nguyen   February 27, 2024 | 09:01 pm PT
Dollar rises on black market
U.S. banknotes seen in an illustration. Photo by Pixabay
The U.S. dollar rose against the Vietnamese dong on the black market while remaining steady at banks Wednesday.

Unofficial exchange points sold the greenback at VND25,350, up 0.20% from Tuesday.

Vietcombank kept the dollar stable at VND24,800.

The State Bank of Vietnam lowered its reference rate by 0.05% to VND24,003.

The dollar has increased against the dong by 1.56% since the beginning of the year.

Globally the U.S. dollar held steady as traders brushed off manufactured goods data overnight and awaited the Federal Reserve's preferred measure of inflation for clues on when the U.S. central bank may start cutting interest rates, Reuters reported.

The U.S. dollar index, which measures the currency against a basket of peers, hovered around 103.84.

The Australian dollar dipped 0.08% to $0.65380 as market players digested softer-than-expected domestic monthly consumer price numbers.

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