Dollar collapses against dong on black market, slides globally

It fell 0.55% to VND 25,390 at unofficial exchange points.

Vietcombank kept its rate at VND 25,230.

The State Bank of Vietnam kept its benchmark rate unchanged at VND 24,254 for the third consecutive day.

The dollar is up 3.23% against the dong since the start of the year.

Globally, the dollar fell against the yen on Friday and was weaker against other peers as traders took profits and investors looked to economic data to gauge the Federal Reserve’s appetite for interest rate cuts. Reuters reported.

The disappointing US housing numbers also kept pressure on the greenback, helping it pare some of the gains it made a day earlier on data showing a easing trend in inflation and consumer resilience .

The dollar was down 1.04 percent against the Japanese yen at 147.75, after hitting a two-week high of 149.40 in the previous session. Still, the yen anticipated its biggest weekly decline since June after U.S. economic data eased recession fears and supported bets on a gradual rate cut.

The dollar index, which measures the greenback against six other major currencies, fell 0.48 percent to 102.54.