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Dollar dips on black market

The U.S. dollar dropped against the Vietnamese dong Wednesday morning.
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The U.S. dollar dropped against the Vietnamese dong Wednesday morning.

Dollar dips on black market

Unofficial exchange points sold the greenback at VND23,500, down 0.17% from Tuesday.

Banks, however, maintained their prices.

Vietcombank sold the dollar at VND23,655, Eximbank VND23,640, and Techcombank VND23,658.

The State Bank of Vietnam also kept its reference rate stable at VND23,714.

The dollar has fallen against the dong by 0.32% since the beginning of the year.

Globally the dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency, Reuters reported.

The greenback was little changed at 139.82 yen following a 0.46% slide on Tuesday, when Japan’s top currency diplomat said following a meeting of the country’s finance ministry, central bank and financial watchdog that officials “will closely watch currency market moves and respond appropriately as needed.”

The Aussie was last down 0.15% at $0.6507, heading back toward last week’s 6 1/2-month low of $0.6490. It sank as much as 0.38% at its lowest point, immediately after climbing as much as 0.33%.

“We have to remember that the Aussie is a pro-growth currency, strongly linked to the outlook for commodities, and we’ve seen commodities under pressure of late,” said Rodrigo Catril, senior foreign-exchange strategist at National Australia Bank.

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