Dollar gains on black market
In this article (5)
The U.S. dollar rose against the Vietnamese dong on the black market Friday afternoon.
Unofficial exchange points sold the greenback at VND25,750, up 0.53% from Thursday.
The State Bank of Vietnam kept its rate unchanged at VND24,246.
The dollar has risen 5.36% to VND25,750 against the dong this year.
Globally the dollar was poised to snap a two-week losing streak on Friday, as traders pondered the U.S. rates outlook, while the yen was steady after inflation in Japan accelerated for a second month, keeping the prospect of a rate hike there on the table.
The U.S. dollar was on the front foot in Asian hours after a stormy week that saw the yen, euro and sterling make significant gains against the greenback as investors fully price in a rate cut from the Federal Reserve as soon as September.
The yen was at 157.72 per dollar after touching a six-week high of 155.375 on Thursday, according to Bank of Japan data. This was in the wake of Tokyo’s suspected interventions last week that could total nearly 6 trillion yen ($38.14 billion).
Questions & Answers
Q.What was the selling price for U.S. Dollars on the black market on Friday afternoon?
What was the selling price for U.S. Dollars on the black market on Friday afternoon?
Unofficial exchange points sold the U.S. Dollar at VND25,750 on Friday afternoon. This represented a 0.53% increase compared to the previous day.
Q.How much has the dollar appreciated against the Vietnamese dong this year?
How much has the dollar appreciated against the Vietnamese dong this year?
The dollar has risen by 5.36% against the Vietnamese dong this year. Its value reached VND25,750 on the black market.
Q.What is the State Bank of Vietnam's official exchange rate for the U.S. Dollar?
What is the State Bank of Vietnam's official exchange rate for the U.S. Dollar?
The State Bank of Vietnam kept its official exchange rate unchanged. It currently stands at VND24,246 for the U.S. Dollar.
Q.Why was the global dollar expected to end its recent losing streak on Friday?
Why was the global dollar expected to end its recent losing streak on Friday?
Globally, the dollar was set to snap a two-week losing streak on Friday. This was as traders considered the U.S. Interest rates outlook.
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