USD prices at commercial banks recorded a week of increase. Specifically, Eximbank bought at 23,800 VND and sold at 24,190 VND, an increase of 220 VND compared to the end of last week. Similarly, Vietcombank bought at 23,780 VND and sold at 24,150 VND, plus 180 VND...
On the contrary, the euro price continued to decrease during the week, with Vietcombank buying at 25,191 VND and selling at 26,601 VND, 43 - 45 VND lower than last weekend.
There are currently many conflicting opinions as the exchange rate has been continuously increasing for nearly 2 weeks. However, the abundant domestic foreign currency supply is still supporting the exchange rate not to increase sharply. That is the stable disbursement of FDI capital, the slight recovery of exports and the forecasted increase in remittances to Vietnam in the last months of the year, helping to increase the foreign currency supply...
Domestic USD price increased to nearly 24,200 VND at the end of the week
The USD price in the international market increased sharply when the USD-Index jumped over 104 points. At the end of the week, the USD-Index reached 104.15 points, up 0.73 points compared to the end of the previous week. The Euro in the international market also continued to decrease when converted to 1.0807 USD.
The greenback rose for a fifth session after data showed the number of Americans filing new claims for unemployment benefits fell. Weaker-than-expected data this week in Europe and the United States weighed on investor appetite for riskier currencies and supported the safe-haven greenback.
Next, the speech of the Chairman of the US Federal Reserve (Fed) at the annual Jackson Hole symposium in Wyoming also said that this agency is still ready to raise interest rates if necessary. At the same time, the Fed intends to maintain policy in the tightening range until it is confident that inflation is on a sustainable downward trend towards the set target.
Some Fed officials have also expressed support for the view of maintaining high interest rates for a long time when the country's inflation has not yet cooled down to the 2% target as they wish. This is the main driving force for the strong increase in the USD price.
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