Dollar slips on black market

By Dat Nguyen   July 18, 2023 | 08:14 pm PT
Dollar slips on black market
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar fell against the Vietnamese dong on the black market Wednesday morning.

Unofficial exchange points sold the greenback at VND23,660, down 0.17% from Tuesday.

Banks kept their rates stable.

Vietcombank sold the dollar at VND23,810, and Eximbank VND23,670.

Techcombank raised its rate by 0.01% to VND23,820.

The State Bank of Vietnam let the reference rate slide by 0.04% to VND23,704.

The greenback has gained over the dong by 0.34% since the beginning of the year.

Globally the dollar held just above an over one-year low on Wednesday as traders assessed the U.S. rate outlook, while the New Zealand dollar spiked briefly after a higher-than-expected inflation reading pushed back prospects of policy easing further out, Reuters reported.

The U.S. dollar managed to nudge up after a mixed retail sales report overnight, with sales growth missing forecasts in June but consumers boosted or maintained spending elsewhere, pointing to consumer resilience that is likely to keep the economy on a solid growth path.

Against a basket of currencies, the U.S. dollar rebounded from a 15-month low hit in the previous session, with its index steadying at 99.943 in early Asia trade.

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