Dollar tiptoes down on black market, remains steady at banks

By Minh Hieu   April 12, 2024 | 12:07 am PT
Dollar tiptoes down on black market, remains steady at banks
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. Photo by Reuters
The U.S. dollar weakened slightly against the Vietnamese dong on the black market while remaining unchanged at banks Friday.

It slid 0.21% to VND25,530 at unofficial exchange points. Meanwhile, Vietcombank kept the dollar steady at VND25,170, a historic peak established on Thursday.

The State Bank of Vietnam (SBV)’s reference rate rose 0.15% to VND24,082.

The dollar has increased against the dong by 3.07% since the beginning of the year.

Globally, the yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year, Reuters reported.

The yen was last marginally higher at 153.17 per dollar, languishing near a 34-year trough of 153.32 per dollar hit in the previous session on the back of a surge in U.S. Treasury yields, which the dollar/yen pair tends to closely track.

Sterling dipped 0.01% to $1.2553 while the euro last bought $1.0726, pushing some distance away from a two-month low hit in the previous session.

The dollar index, which measures the currency against the yen, euro and four other peers, traded at 105.26, after reaching the highest since Nov. 14 at 105.53 overnight. It has jumped 0.95% this week.

go to top