A U.S. dollar bill. Photo by Unsplash/alexandratimis
The U.S. dollar gained over the Vietnamese dong on the black market Saturday morning.
Unofficial exchange points sold the greenback 0.43% higher at VND27,015.
Vietcombank kept its rate unchanged at VND26,510. The State Bank of Vietnam’s reference rate was stable at VND25,248.
Globally the U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve interest rate cut, Reuters reported.
The dollar fell across the board following the report. It weakened 0.70% to 147.44 against the Japanese yen, but was still on track for the second straight week of gains.
The greenback dropped 0.91% to 0.79830 against the Swiss franc and was poised for the fourth consecutive week of losses against the currency.
“The data is giving evidence of what was feared, which is that what companies have experienced throughout the year because of changes in trading policy has added costs when it comes to tariffs,” said Juan Perez, director of trading at Monex USA in Washington.
“These costs can only be absorbed for so long and what is being manifested is that companies are struggling with hiring.”
