Domestic movements of the Australian Dollar (AUD) exchange rate
Today, April 13, 2024, the AUD exchange rate continues to be applied according to the rate announced by the State Foreign Exchange Management Department, at 14,961 - 16,536 VND/AUD for buying and selling respectively.
The State Bank of Vietnam has determined the cross exchange rate of VND/AUD applicable for calculating export and import taxes, effective from April 11, 2024 to April 17, 2024, to be 15,926.25 VND/AUD.
At Vietcombank this morning, the buying rate for the Australian dollar was 15,866 VND/AUD and the selling rate was 16,541 VND/AUD.
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| AUD exchange rate today, April 13, 2024, at Vietcombank. Screenshot taken at 10:00 AM. |
Comparing the Australian Dollar (AUD) exchange rates among the 10 largest banks in Vietnam today, April 13, 2024, the buying rate for AUD shows that 1 bank increased its buying price, 5 banks decreased their buying price, and 4 banks maintained the same buying price compared to yesterday.
Meanwhile, on the selling side, 2 banks increased their selling prices, 4 banks decreased their selling prices, and 4 banks maintained the same selling prices as yesterday.
Today, Techcombank is buying Australian dollars at 15,650 VND/AUD and selling them at 16,542 VND/AUD, a decrease of 123 VND in the buying rate and 117 VND in the selling rate compared to yesterday.
ACB Bank is buying Australian dollars at 15,984 VND/AUD and selling at 16,552 VND/AUD, a decrease of 66 dong in the buying rate and an increase of 31 dong in the selling rate compared to yesterday's exchange rate.
Today, HSBC Vietnam Bank is offering the highest buying price for Australian Dollars (AUD) at 16,011.00 VND/AUD. The lowest selling price for Australian Dollars (AUD) is offered by Vietnam Prosperity Bank at 15,827.00 VND/AUD.
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| AUD exchange rates today, April 13, 2024, surveyed at several banks. Screenshot taken at 10:00 AM. |
Australian Dollar exchange rate in the market on April 13, 2024
According to a survey of the black market exchange rates this morning, April 13, 2024, the buying price of AUD in the black market was 16,320 VND/AUD; the selling price was 16,420 VND/AUD.
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| AUD exchange rate today, April 13, 2024, at the market. Screenshot taken at 10:00 AM. |
Forecast of future trends for the Australian dollar.
The Australian dollar closed this week with a slight decline. Analysts point to negative data from China as a factor putting selling pressure on the Australian dollar (AUD). Today, April 13, 2024, 1 Australian dollar (AUD) is estimated to be equivalent to 16,244 Vietnamese dong (VND), down 100 dong compared to Thursday's session. Considering this week, from the beginning to the end of the week, the Australian dollar has decreased in value by 1%. This recent decline is occurring amidst a widespread sell-off of Chinese stocks and the yuan.
Sean Callow, foreign exchange market strategist at Westpac, said: “The Australian dollar’s decline appears to be linked to recent uncertainties in China. The CSI 300 index on the Shanghai-Shenzhen exchange is heading for its seventh consecutive day of losses.”
The Shanghai 300 index closed at its lowest level since February, and the yuan fell after data showed China's exports plummeted in March, while imports also unexpectedly declined.
This has a significant impact on the Australian economy and the AUD, as China is the country's largest export market and a crucial source of foreign exchange earnings.
China's exports in March 2024 fell 7.5% year-on-year, marking the sharpest decline since August last year and a deeper drop than the 2.3% forecast in a Reuters poll of economists.
Previously, export turnover increased by 7.1% in the period from January to February 2024. Import turnover in March also decreased by 1.9%, after having increased by 3.5% in February, with the market expecting an increase of 1.2%.
These data reflect that the world's second-largest economy has not recovered as some predicted at the beginning of the year. The health of the Chinese economy directly impacts the Australian dollar exchange rate, causing it to plummet.
However, the currency's decline was also mitigated by some other positive news during the week. Rising metal and gold prices this week provided some support to the Australian dollar's exchange rate at the beginning of the week.
Australian consumer inflation forecasts for April unexpectedly rose to 4.6% from the more modest estimate of 4.1%, surpassing the previous month's actual figure of 4.3%. The better-than-expected data provided modest support to the AUD this week.
In summary, the Australian dollar had a volatile trading week. From the beginning to the middle of the week, the Australian dollar rose due to its peg to "metal prices," and metal prices were rising well; economic data in Australia was positive. But towards the end of the week, data showing a decline in trade activity in China caused the Australian dollar to fall.
Check out the most searched addresses for currency exchange and Australian dollar buying/selling in Hanoi: 1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 2. Gold and Silver Handicrafts - No. 31 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 3. Minh Chien Gold and Silver Shop - 119 Cau Giay Street, Cau Giay District, Hanoi 4. Thinh Quang Gold and Silver Company - 43 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 5. Toan Thuy Store - 455 Nguyen Trai Street, Thanh Xuan District, Hanoi and 6 Nguyen Tuan Street, Thanh Xuan District, Hanoi 6. Bao Tin Minh Chau Gold, Silver and Gemstones - 19 Tran Nhan Tong Street, Bui Thi Xuan Ward, Hoan Kiem District, Hanoi 7. Chinh Quang Store - 30 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 8. Kim Linh 3 Store - 47 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 9. Huy Khoi Store - 19 Ha Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi 10. The system of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB Check out the most searched-for foreign currency exchange and Australian dollar buying/selling locations in Ho Chi Minh City: 1. Minh Thu Foreign Exchange - 22 Nguyen Thai Binh Street, District 1, Ho Chi Minh City 2. Ha Tam Gold Shop - No. 2 Nguyen An Ninh Street, Ben Thanh Ward, District 1, Ho Chi Minh City 3. Kim Mai Gold Shop - 84C Cong Quynh Street, Pham Ngu Lao Ward, District 1, Ho Chi Minh City 4. Saigon Jewelry Center - 40-42 Phan Boi Chau Street, District 1, Ho Chi Minh City 5. Kim Chau Gold Shop - 784 Dien Bien Phu Street, Ward 10, District 10, Ho Chi Minh City 6. Kim Tam Hai Store – 27 Truong Chinh Street, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City 7. Mi Hong Gold, Silver and Gemstones - 306 Bui Huu Nghia Street, Ward 2, Binh Thanh District, Ho Chi Minh City 8. Kim Hung Foreign Exchange Agency – 209 Pham Van Hai Street, Binh Chanh District, Ho Chi Minh City |
* This information is for reference only.
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