U.S. one dollar banknotes are seen in this illustration taken Feb. 8, 2021. Photo by Reuters
The U.S. dollar rose marginally against the Vietnamese dong on the black market Saturday morning.
The greenback was sold 0.19% higher at VND26,470 at unofficial exchange points.
Vietcombank kept its rate unchanged at VND26,270.
The State Bank of Vietnam’s reference rate was steady at VND25,048.
Globally the dollar retraced earlier losses against the euro on Friday after U.S. President Donald Trump said the United States was ending trade talks with Canada and that he would consider bombing Iran again, denting risk appetite and sending stocks lower, Reuters reported.
The dollar dropped to a three-and-a-half-year low against the euro earlier on Friday as traders bet that the Federal Reserve will cut rates more times and possibly sooner than previously expected as some U.S. data points to a weakening economy.
The dollar index was little changed on the day at 97.36 and is on pace for a 1.40% weekly decline, the worst since May 19.
The Canadian dollar extended losses on the day, however, after Trump said the U.S. is immediately ending trade talks with Canada in response to the country’s digital services tax on technology companies. It was last down 0.5% versus the greenback at C$1.37 per dollar.
