Dollar Surges on Black Market While Global Value Tumbles

The US dollar saw gains on the black market in Vietnam while it faced losses against major peers globally. On Thursday morning, unofficial exchange points sold the greenback at VND25,900, a 0.39% increase from Wednesday's rate. Vietcombank kept its rate unchanged at VND26,370.

Globally, the US dollar index, which measures the currency against six other units, hovered near three-month lows at 98.938. This came after investors digested measures announced by the US Treasury Department to calm the bond market. The department's efforts aimed to address long-end yields that had reached their highest level since 2007.

The euro and Japanese yen also saw significant movements against the dollar. The euro hit $1.1676, its highest level since late May, while the Japanese yen last fetched 158.32 per dollar, pulling away from the closely watched 160 level.