Note the reduction

Japanese Yen exchange rate on January 2, 2025 in the domestic market

The Japanese Yen exchange rate on January 2, 2025 according to a survey at banks fluctuated as follows:

At Vietcombank , the buying rate of Japanese Yen is 156.86 VND/JPY and the selling rate is 166.12 VND/JPY.

At Vietinbank , the buying and selling rates are 158.69 VND/JPY and 166.44 VND/JPY respectively.

BIDV Bank has a buying rate of 158.99 VND/JPY and a selling rate of 166.56 VND/JPY.

At Agribank, the buying and selling rates of Japanese Yen are 158.70 VND/JPY and 166.18 VND/JPY, respectively.

Eximbank recorded the buying rate at 159.77 VND/JPY and the selling rate at 165.85 VND/JPY.

At Sacombank, the buying and selling rates reached 159.48 VND/JPY and 166.49 VND/JPY, respectively.

At Techcombank, the buying and selling rates of Japanese Yen are 155.91 VND/JPY and 168.41 VND/JPY, respectively.

NCB has a buying rate of 157.92 VND/JPY and a selling rate of 166.20 VND/JPY.

HSBC quoted the buying rate as 158.72 VND/JPY and the selling rate as 165.55 VND/JPY.

According to information from Dak Nong Newspaper, Eximbank and Sacombank have the highest buying rate of Japanese Yen, while HSBC has the lowest selling rate of Japanese Yen compared to other banks.

*Note: Cash buying and selling rates
Day	January 2 , 2025		Change from previous session
Bank	Buy	Sell	Buy	Sell
Vietcombank	156.86	166.12	-	-
VietinBank	158.69	166.44	-	-
BIDV	158.99	166.56	-	-
Agribank	158.70	166.18	-	-
Eximbank	159.77	165.85	-	-
Sacombank	159.48	166.49	-	-
Techcombank	155.91	168.41	-	-
NCB	157.92	166.20	-	-
HSBC	158.72	165.55	-	-

Forecast of Japanese Yen exchange rate trend

In today's trading session, the Japanese Yen has not fluctuated much, the trend is mainly sideways due to the market being temporarily closed for the holiday.

The yen has fallen about 20% against the dollar since late 2021, underperforming other major currencies. The Bank of Japan (BoJ) has kept interest rates very low, while other major central banks have raised them aggressively. This has created a yield differential that has further weakened the yen.

While inflation is rising in Japan – as it has in many other countries – it remains lower than in other advanced economies. Japan’s core inflation rate, which excludes fresh food, was 2.5% in November 2023, down from 4.2% at the start of 2023. While that is above the BoJ’s 2% inflation target, the central bank has remained cautious, holding off on raising interest rates for fear of hurting the economy.

The BoJ is likely to gradually tighten monetary policy, especially if it determines that inflation has stabilized above its target. The BoJ has made some adjustments to its yield curve control (YCC) policy to keep long-term bond yields low.

Since mid-November 2023, the yen has gained about 7% against the dollar, partly on expectations that the BoJ could abandon its negative interest rate policy in 2024.

A significant support factor for the Yen in 2024 could come from the US Federal Reserve (FED). With the Fed's rate hike cycle likely over and a rate cut imminent, the Yen could benefit.

The yield spread between U.S. and Japanese government bonds has narrowed by nearly 1 percentage point over the past two months, as U.S. bond yields have fallen sharply. Meanwhile, Japanese bond yields have also fallen during the same period.

Japan has kept policy unchanged as other major central banks have raised interest rates, hoping that the country can withstand pressure on the yen. However, this appears to be starting to pay off.

Source: https://baodaknong.vn/ty-gia-yen-nhat-ngay-2-1-2025-ghi-nhan-su-giam-nhe-238648.html