The U.S. dollar increased against the Vietnamese dong on the black market Saturday morning while falling to a seven-week low against major peers.
Unofficial exchange points sold the greenback 0.11% higher at VND26,660.
Vietcombank’s exchange rate was kept unchanged at VND26,357.
Globally the safe-haven U.S. dollar dropped to multi-week lows on Friday as risk appetite soared after Iran said the Strait of Hormuz is open, boosting optimism that the Middle East conflict is winding down, Reuters reported.
In afternoon trading, the dollar index, which measures the greenback against a basket of six currencies, fell 0.3% to 97.96 after earlier dropping to 97.632, its lowest in seven weeks.
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U.S. dollar bills. Photo by Unsplash/Colin Watts |
The index was down 0.6% on the week, set for a second straight weekly decline. Over the past two weeks, it has fallen about 2.1%, its largest two-week drop since late January.
“The dollar’s weakness is mainly about the market unwinding the geopolitical risk premium,” said George Vessey, lead FX and macro strategist at Convera in London.
