A U.S. dollar bill. Photo by Unsplash/alexandratimis
The U.S. dollar rose slightly against the Vietnamese dong on the black market Saturday morning.
Unofficial exchange points sold the greenback 0.04% higher at VND26,460.
Vietcombank kept its rate unchanged at VND26,320.
The State Bank of Vietnam’s reference rate was stable at VND25,164.
Globally the U.S. dollar advanced on Friday, bolstered by solid economic data that suggested the Federal Reserve could take its time in resuming interest rate cuts, while tariff negotiations showed more clarity that eased some uncertainty in the market, Reuters reported.
“The dollar regained some ground the past two days, after being on the defensive earlier in the week … supported mostly by an encouraging set of U.S. economic data that argues for continued patience at the Fed,” said Elias Haddad, senior markets strategist at Brown Brothers Harriman in London.
The greenback was set for its biggest weekly drop in a month, ahead of more tariff dialogue and central bank meetings next week, while sterling dipped after softer-than-expected British retail sales data.
Falls against the euro and yen leave the dollar index, which measures the dollar against six other currencies, at 97.45, on track for a drop of 0.8% this week, its weakest performance in a month, though it bounced back 0.2% to 97.663 on Friday.