Dollar strengthens on black market

By Dat Nguyen   November 13, 2023 | 08:34 pm PT
Dollar strengthens on black market
An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong on the black market Tuesday morning.

Unofficial exchange points sold the greenback at VND24,720, up 0.08% from Monday.

Vietcombank kept it unchanged at VND24,540.

The State Bank of Vietnam raised its reference rate by 0.02% to VND24,020.

The dollar has gained over the dong by 3.41% since the beginning of the year.

Globally, the battered yen was stuck near a three-decade low against the dollar on Tuesday, struggling to find a floor as the Bank of Japan's (BOJ) ultra-easy monetary policy settings remained at odds with the prospect of higher-for-longer rates elsewhere, Reuters reported.

The Japanese currency slumped to a 15-year low of 162.38 per euro in early Asia trade and slid to a roughly three-month trough of 186.25 per British pound.

Against the dollar, the yen last stood at 151.72, languishing near a one-year low of 151.92 hit on Monday. A break below last year's trough of 151.94 per dollar would mark a fresh 33-year low for the yen.

Sterling eased 0.03% to $1.2274, while the euro gave up 0.02% to trade at $1.06965.

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