Foreign exchange prices on January 11, 2025: USD increased sharply, Index nearly reached 110

DNVN - On January 11, 2025, the USD price reached its highest peak in the past half year compared to the Japanese Yen, reflecting that US employment exceeded expectations.

World market USD exchange rate

The Dollar Index (DXY), which reflects the value of the USD against six other major currencies such as EUR, JPY, GBP, CAD, SEK and CHF, reached 109.66 points, up 0.49 points compared to the trading session on January 10, 2025.

The US dollar continued to climb in recent trading sessions, as data showed the US economy added more jobs last month, raising hopes that the Fed will keep interest rates unchanged at its policy meeting later this month.

Data from the US also boosted the dollar, with a report showing US consumers' inflation expectations rose in January.

Against the Japanese yen, the greenback rose to its highest since July, but then eased.

The dollar started to rise after the US Labor Department reported that 256,000 jobs were created in December, significantly higher than the 160,000 forecast by experts. However, the November figure was revised down to 212,000 jobs.

The unemployment rate fell to 4.1%, below the 4.2% expected. Average hourly earnings rose 0.3% in December, down from a 0.4% gain the previous month. Over the 12 months through December, wages rose 3.9%, down from 4.0% in November.

During his election campaign, US President-elect Donald Trump pledged to implement policies such as tariffs and deportation of illegal immigrants, measures that are seen as fueling inflation.

A University of Michigan survey showed that one-year inflation expectations rose to 3.3% in January from 2.8% in December, the highest level since May. That pushed 12-month inflation expectations above the 2.3%-3.0% range seen two years before the pandemic.

Following the positive economic data, interest rate futures markets are reflecting a high probability that the Fed will pause its rate-cutting cycle in January. Investors are predicting only 27 basis points of rate cuts by the Fed in 2025, with the first adjustment likely to come in June.

On the other hand, the British pound fell to its lowest level since November 2023 against the US dollar, ending the session at $1.2208, down 0.8%. The pound was also pressured by a sell-off in government bonds and concerns about Britain's finances.

In Japan, the central bank is eyeing growing inflation pressures, due to the prospect of sustained wage growth and rising import costs due to a weakening yen.

The US dollar gained 0.4% against the Japanese yen last week and has gained in five of the last six weeks against the currency.

Domestic USD exchange rate

In the domestic market, on the morning of January 11, the State Bank announced the central exchange rate between VND and USD increased by 3 VND, reaching 24,341 VND.

The reference buying and selling exchange rates at the State Bank of Vietnam remain unchanged, maintained at VND 23,400 - VND 25,450.

At Vietcombank, the buying and selling rates are 25,168 - 25,558 VND/USD, up 4 VND.

TPB Bank listed the lowest USD cash purchase price at 24,390 VND and the lowest transfer purchase price at 24,430 VND.

HSBC Bank offered the highest USD cash purchase price, at VND25,273, while VietinBank kept the highest transfer purchase price at VND25,558.

TPB has the lowest USD cash selling price, at VND24,870, while HSBC lists the lowest transfer selling price at VND25,501.

A series of banks such as ABBank, BIDV, Dong A, Kien Long, LPBank, MSB, OceanBank, PGBank, PublicBank, PVcomBank, Sacombank, Saigonbank, SeABank, UOB, Vietcombank, VRB are having the highest USD cash selling price at 25,558 VND.

The EUR exchange rate at the State Bank of Vietnam decreased slightly to 23,820 VND - 26,329 VND. Meanwhile, the Japanese Yen exchange rate increased slightly to 146 VND - 162 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-11-1-2025-usd-tang-manh-index-gan-cham-moc-110/20250111084737419