Dollar slips on black market

By Dat Nguyen   October 24, 2023 | 09:45 pm PT
Dollar slips on black market
Al person holds U.S. dollar banknotes in this illustration taken May 30, 2022. Photo by Reuters/Dado Ruvic
The U.S. dollar fell against the Vietnamese dong on the black market Wednesday morning.

Unofficial exchange points sold the greenback at VND24,600, down 0.16% from Tuesday.

Vietcombank maintained its rate at VND24,730.

The State Bank of Vietnam (SBV)’s lowered its reference rate by 0.04% to VND24,087.

The dollar has gained over the dong by 4.21% since the beginning of the year.

Globally, the dollar was on the front foot on Wednesday, drawing support from yet another resilient U.S. economic data reading, while the euro struggled to make headway on the back of a darkening growth outlook in the bloc, Reuters reported.

The Australian dollar rose more than 0.5% in an initial knee-jerk reaction following a higher-than-expected inflation print in Australia on Wednesday.

Against the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday.

The single currency's slide lifted the dollar index and it last steadied at 106.23, away from a one-month low of 105.35 hit in the previous session.

The euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers.

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