Dollar slips on black market

By Dat Nguyen August 18, 2023 | 07:33 pm PT

U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. Photo by Reuters/Lee Jae-Won

The U.S. dollar fell marginally against the Vietnamese dong on the black market Saturday morning.

Unofficial exchange points sold the greenback at VND24,000, down 0.04% from Friday.

Vietcombank maintained the dollar at VND23,970.

The State Bank of Vietnam reduced its reference rate by 0.02% to VND23,946.

The dollar has increased over the dong by 1.01% since the beginning of the year.

Globally the dollar was flat on Friday but set for a fifth consecutive week of gains in its longest winning streak for 15 months, buoyed by demand for safer assets on worries over China's economy and bets that U.S. interest rates will stay high, Reuters reported.

The U.S. dollar index , which measures the currency against six peers, edged 0.01% lower at 103.380, after touching a new two-month high of 103.680 earlier in the session. For the week, it is set to gain 0.5%.

The yuan weakened against the dollar to 7.3060 in offshore trading after the PBOC set the official mid-point at 7.2006.