Dollar gains on black market

A man counts US dollar notes at a bank. Photo by Reuters

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.
Vietcombank raised its rate by 0.03% to VND25,458.
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, Reuters reported.
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 in the wake of suspected interventions by Tokyo last week that could total nearly 6 trillion yen ($38.14 billion), according to data from the Bank of Japan.

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