Dollar shoots up on black market

By Dat Nguyen   July 6, 2023 | 07:54 pm PT
Dollar shoots up on black market
A U.S. one dollar banknote is seen in front of displayed stock graph in this illustration taken May 7, 2021. Photo by Reuters/Dado Ruvic
The U.S. dollar rose against the Vietnamese dong on the black market Friday morning.

Unofficial exchange points sold the greenback at VND23,800, up 0.42% from Thursday.

But Vietcombank lowered its rate by 0.17% to VND23,860.

Eximbank kept the dollar unchanged at VND23,670. Techcombank’s rate was also stable at VND23,900.

The State Bank of Vietnam raised its reference rate by 0.02% to VND23,833.

The dollar has increased over the dong by 0.55% since the beginning of the year.

Globally the dollar held tight ranges on Friday as investors awaited a key U.S. jobs report and weighed the prospect of higher-for-longer Federal Reserve interest rates against the economic growth outlook, Reuters reported.

The dollar index rose 0.03% to 103.12, while yields on U.S. Treasuries hovered near their recent peaks.

Against the greenback, the euro slipped 0.02% to $1.0890, while the New Zealand dollar was nursing some of its losses from the previous session and rose 0.09% to $0.6163.

Sterling was likewise lower against the dollar and last bought $1.2734, though it had on Thursday risen to a two-week high of $1.2780, as markets bet that the Bank of England will raise interest rates to 6.5% early next year, up from a previous expected peak of 6.25%.

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