Dollar Slips Against Dong on Black Market Amid Global Yen Decline
The US dollar has declined against the Vietnamese dong on the black market. On Saturday morning, unofficial exchange points were selling the greenback at VND26,280, a 0.15% decrease from previous rates. In contrast, Vietcombank maintained its rate unchanged at VND26,490.
The dollar's decline comes as it also fell against the Japanese yen globally on Friday. Traders are anticipating a second round of intervention by Japanese authorities to prop up their currency after they stepped in a day earlier. The dollar sank 0.8% to 158.225 yen, following a 2.4% drop the previous day.
Japan's slow pace of rate hikes has been blamed for pushing the yen to 40-year lows below 163 per dollar recently. Analysts expect the Bank of Japan to raise rates again to 1.25% by year-end.