Dollar ups on black market

By Dat Nguyen   August 9, 2023 | 08:11 pm PT
Dollar ups 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 Thursday morning.

Unofficial exchange points sold the greenback at VND23,815, up 0.06% from Wednesday.

Vietcombank kept its rate stable at VND23,910.

The State Bank of Vietnam’s reference rate was 0.02% higher at VND23,826.

The dollar has gained 0.76% over the dong since the beginning of the year.

Globally the greenback held near the center of its range this week against a basket of major peers, as investors awaited key U.S. inflation data later Thursday that could influence the path for Federal Reserve policy, Reuters reported.

The U.S. dollar index - which measures the currency against six counterparts, including the euro and yen - was little changed at 102.50 in the Asian morning, after trading roughly between 101.98 and 102.80 this week.

The dollar has benefited from safe-haven demand in the wake of an ongoing run of poor Chinese economic data, while the narrative continues to build for a soft landing for the U.S. economy as price pressures mitigate.

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