Domestic AUD exchange rate developments; AUD exchange rate today February 29, 2024
Today, February 29, 2024, as of 11:00 a.m., the AUD exchange rate is applied according to the level announced by the State Foreign Exchange Reserve Management Department at the buying - selling rate of 14,820 - 16,380 VND/AUD.
The State Bank determines the cross exchange rate of VND/AUD applied to calculate export tax and import tax effective from February 29, 2024 to March 6, 2024 as VND 15,637.95/AUD.
At Vietcombank , compared to the AUD exchange rate at the same time yesterday morning, this morning, the Australian dollar price was adjusted down sharply by the bank. The Australian dollar buying price was 15,577 VND/AUD, down 125 VND; and the selling price was 16,240 VND/AUD, down 636 VND.
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| AUD exchange rate today 29/2/2024 at Vietcombank |
Comparing the Australian Dollar (AUD) exchange rate between the 13 largest banks in Vietnam, today, February 29, 2024, the AUD exchange rate in the buying direction has 2 banks increasing the buying price, 10 banks decreasing the buying price and 1 bank keeping the buying price unchanged compared to yesterday.
Meanwhile, in the selling direction, 2 banks increased their selling prices, 10 banks decreased their selling prices and 1 bank kept its selling price unchanged compared to yesterday.
Techcombank today bought Australian dollars in cash at 15,522 VND/AUD and sold at 16,408 VND/AUD. Compared to yesterday's closing exchange rate, this bank adjusted the cash buying rate up by 46 VND and the selling rate up by 41 VND.
Today, Sacombank bought Australian Dollars (AUD) at the highest price of 15,895.00 VND/AUD. The lowest selling price of Australian Dollars (AUD) was Vietnam Prosperity Bank at 15,827.00 VND/AUD.
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| AUD exchange rate today 29/2/2024 surveyed at some banks |
Australian dollar exchange rate at market price on February 29, 2024
Surveying the black market, in this morning's trading session on February 29, 2024, the AUD buying price on the black market increased compared to yesterday's session (February 28) at 16,300 VND/AUD; the selling price was 16,400 VND/AUD.
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| AUD exchange rate today 29/2/2024 at the price market |
Forecast of Australian dollar future trend
The Australian dollar (AUD) is rising against a number of its peers this morning amid upbeat forecasts on the Reserve Bank of Australia's (RBA) monetary policy outlook.
Australian wage growth in the fourth quarter of 2023 was slightly higher than market expectations, a surprise development that could give the RBA more room to maintain high interest rates for longer, without having to rush to cut rates. The Australian dollar has benefited from growth in recent sessions.
The Australian dollar performed well after the Australian Bureau of Statistics (ABS) reported wage growth of 0.9% in the fourth quarter of 2023, bringing the annual increase to 4.2%, beating market expectations of 4.1%.
Wage growth is falling short of the RBA’s target of returning inflation to 2.0%. However, policymakers will be pleased that Q4 growth slowed from Q3’s 1.3%.
“We still expect the RBA to hold rates at 4.35% until November,” said Catherine Birch, an economist at ANZ Bank. “A November rate cut would be a surprise to markets, which had been expecting a rate cut around June.”
ANZ said the RBA would remain vigilant as economists there expect wage growth to remain above 4% per year in the first half of 2024, before tapering off in the second half.
The data also confirmed that annual real wage growth was positive for the first time since Q1 2021 (+0.1% year on year). Lower inflation, higher nominal wage growth and upcoming tax and interest rate cuts will support households into 2024, says Catherine Birch.
In addition, comments that the Australian economy remains resilient despite high interest rates have also added strength to the AUD exchange rate in recent sessions.
If ANZ’s predictions are correct, the market price will have to adjust in the direction of strengthening the Australian dollar. After the release of the wage data, we saw the exchange rate of the Australian dollar adjusted up continuously, compared to the Vietnamese dong as well as other foreign currencies.
Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian dollars in Hanoi: 1. Quoc Trinh Ha Trung Gold Shop - No. 27 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 2. Gold and Silver Fine Arts - No. 31 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 3. Minh Chien Gold and Silver Store - No. 119 Cau Giay, Cau Giay District, Hanoi 4. Thinh Quang Gold and Silver Company - No. 43 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 5. Toan Thuy Store - No. 455 Nguyen Trai, Thanh Xuan District, Hanoi and No. 6 Nguyen Tuan, Thanh Xuan District, Hanoi 6. Bao Tin Minh Chau Gold, Silver and Gemstones - No. 19 Tran Nhan Tong, Bui Thi Xuan, Hoan Kiem District, Hanoi 7. Chinh Quang Store - No. 30 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 8. Kim Linh 3 Store - No. 47 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 9. Huy Khoi Store - No. 19 Ha Trung, Hang Bong, Hoan Kiem District, Hanoi 10. System of transaction offices at banks such as: Sacombank, VietinBank, Vietcombank, SHB Refer to the most searched addresses for Foreign Currency Exchange - Buying and Selling Australian dollars in Ho Chi Minh City: 1. Minh Thu Currency Exchange - No. 22 Nguyen Thai Binh, District 1, Ho Chi Minh City 2. Ha Tam Gold Shop - No. 2 Nguyen An Ninh, Ben Thanh Ward, District 1, Ho Chi Minh City 3. Kim Mai Gold Store - 84C Cong Quynh, Pham Ngu Lao Ward, District 1, Ho Chi Minh City 4. Saigon Jewelry Center - 40-42 Phan Boi Chau, District 1, Ho Chi Minh City 5. Kim Chau Gold Shop - No. 784 Dien Bien Phu, Ward 10, District 10, Ho Chi Minh City 6. Kim Tam Hai Store – No. 27 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City 7. Mi Hong Gold and Gemstones - 306 Bui Huu Nghia, Ward 2, Binh Thanh District, Ho Chi Minh City 8. Kim Hung foreign exchange agency – No. 209 Pham Van Hai, Binh Chanh district, Ho Chi Minh City |
* Information is for reference only.
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