Foreign exchange prices on December 12, 2024: USD increases sharply, simultaneously creating waves in the markets

DNVN - On December 12, 2024, the central exchange rate between VND and USD decreased by 5 VND, closing at 24,253 VND. The USD Index (DXY) currently reached 106.65 points.

USD exchange rate on international market

The Dollar Index (DXY), which tracks the performance of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded at 106.65, up 0.25% compared to December 11, 2024.

The US dollar hit a new high in the last trading session as US CPI data matched expectations, reinforcing expectations that the Fed will cut interest rates next week.

Specifically, data released on December 11 showed that the CPI rose 0.3% last month, the highest level since April, after four consecutive months of recording a 0.2% increase. Previously, a Reuters survey forecast a 0.3% increase.

Following the report, CME's FedWatch tool showed the probability of the Fed cutting interest rates by 25 basis points at its December 18 meeting increased to more than 94%.

“It’s rare for the Fed to act against market expectations when the odds are so high,” said Marc Chandler, strategist at Bannockburn Forex.

Analysts also pointed out that the USD was influenced by Reuters information that Chinese leaders considered devaluing the yuan by 2025 to deal with the risk of higher tariffs from President-elect Donald Trump.

The US dollar rose 0.3% against the yuan, reflecting China's efforts to stimulate the economy amid pressure from new US trade policies.

The dollar also rose 0.44 percent against the Japanese yen, hitting 152.63 yen. The yen had earlier gained on data showing Japan's inflation accelerating, bolstering the case for a rate hike by the Bank of Japan next week.

On December 11, the Bank of Canada cut its policy rate by 50 basis points to 3.25% to address slowing growth. This action sent the CAD to its lowest level in more than four years, trading at 1.4156 CAD/USD.

In a volatile week for monetary policy, the European Central Bank and the Swiss National Bank are also expected to make important decisions on December 12.

The euro fell 0.34% to $1.0492, while the Swiss franc fell 0.21% to $0.8846.

Domestic USD exchange rate

In Vietnam, on the morning of December 12, the central exchange rate between VND and USD decreased by 5 VND, closing at 24,253 VND.

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

Specifically, the exchange rate at Vietcombank remained stable at 25,135 - 25,465 VND/USD.

At BIDV , the buying and selling rates remained unchanged, at 25,165 – 25,465 VND/USD. Meanwhile, Techcombank increased the buying rate by 23 VND to 25,138 VND/USD, while the selling rate remained at 25,465 VND/USD.

At Eximbank, the exchange rate is currently 23,712 - 25,465 VND/USD, up 10 VND for buying and unchanged for selling. At ACB, the exchange rate is 24,160 VND/USD - 25,465 VND/USD, up 10 VND for buying and unchanged for selling.

In the free market, USD is trading at around 25,565 - 25,675 VND/USD, up 30 VND for buying and 20 VND for selling compared to the previous session.

The EUR buying and selling rate at the State Bank's Exchange decreased slightly, to 24,260 VND - 26,814 VND.

For Japanese yen, the listed exchange rate at the State Bank of Vietnam remains unchanged, maintained at 152 VND - 168 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-12-12-2024-usd-tang-cao-dong-loat-tao-song-tren-cac-thi-truong/20241212101544092