Friday , April 12 2024

Dollar tiptoes up on black market

The U.S. dollar gained marginally against the Vietnamese dong at banks on Saturday morning.

Unofficial exchange points sold the greenback 0.04% higher from Friday at VND23,460.

Vietcombank kept the dollar unchanged at VND23,620.

The rate remained stable at Eximbank (VND23,600) and Techcombank (VND23,618).

The State Bank of Vietnam also maintained its reference rate at VND23,588.

The dollar has fallen against the dong by 0.46% since the beginning of the year.

Globally the dollar index bounced off a one-year low against a basket of currencies on Friday after some March retail sales components were not as weak as some economists had feared, while a key Federal Reserve official warned that the U.S. central bank needs to continue hiking interest rates to bring down inflation, Reuters reported.

The dollar rebounded from an initial drop after data showed U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items.

The dollar index gained 0.57% on the day at 101.53, after falling to 100.78, the lowest since last April. It remains on track for its fifth consecutive down week.

The euro fell 0.44% to $1.0999 after hitting $1.10755, the highest since last April. The dollar gained 0.91% against the Japanese yen to 133.78.

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