Foreign exchange prices on November 13, 2024: USD continues to increase strongly

DNVN - On November 13, 2024, the USD recorded a significant increase, reaching a 6.5-month peak against major currencies on Tuesday.

USD exchange rate developments in the international market

Illustration photo. Photo: INT

The Dollar Index (DXY), which measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has now risen to 105.95, up 0.42 points from its closing level on November 12, 2024.

The US dollar has risen the most in more than half a year, as investors expect higher tariffs to push up interest rates and reduce the possibility of the US Federal Reserve (Fed) adjusting interest rates lower. At the same time, the yield on 10-year US government bonds increased by 13.1 basis points to 4.439%.

At one point, the DXY index even hit 106.17 - its highest level since May.

The Fed's latest decision to cut its benchmark interest rate by 0.25 points to a range of 4.50% - 4.75% has investors expecting another cut in December, with a 59% chance, down from 80% before Donald Trump won the recent election.

A report from Decision Desk HQ said that Mr. Trump's Republican Party is preparing to take power in the House of Representatives, creating conditions for him to push forward his policies when he officially takes office in January 2025.

“There has been a big move in the dollar ahead of the election and it is continuing to get a boost, which is positive for the greenback in the coming period,” said Serebriakov, FX strategist at UBS in New York.

The euro fell to $1.0596 on Tuesday, its lowest since November 2023, and was down another 0.32% at $1.06215.

The pound fell to $1.2742, down 0.99%, after data showed slower wage growth in the UK, along with rising unemployment, leaving the currency vulnerable to the dollar's rise.

Meanwhile, the US dollar rose 0.6% against the Japanese yen to 154.63 yen. Last week, the yen fell sharply to a three-month low of 154.715 yen per dollar.

The onshore yuan exchange rate closed at 7.2378 yuan/USD, the lowest level since August 1. The AUD also depreciated 0.61% against the USD, to 0.6534 USD, due to the impact of China's economic situation.

Domestic USD exchange rate developments

The USD exchange rate on November 13, 2024 rose to a half-year high against major currencies, while Bitcoin gradually reduced its gains after reaching a peak.

Opening today, the State Bank announced the central exchange rate between VND and USD increased by 4 VND compared to the previous session, currently at 24,267 VND/USD.

Commercial banks still kept the USD selling price around 24,480 VND/USD, while the USD Index (DXY) remained at 105.90.

At Vietcombank , the latest updated USD/VND exchange rate is 25,130 - 25,480 VND/USD for both buying and selling, with the buying price increasing by 40 VND compared to the previous day.

BIDV Bank also adjusted the buying price up by 25 VND to 25,160 VND/USD, while the selling price remained unchanged at 25,480 VND/USD as in the previous session. At Techcombank, the exchange rate was 25,091 - 25,480 VND/USD, up 20 VND for the buying price.

Eximbank also recorded an increase of 19 VND in buying price, keeping the selling price at 25,480 VND/USD, with the listed price of 23,712 - 25,480 VND/USD. ACB adjusted the buying price by 20 VND and the selling price by 5 VND, reaching 24,130 - 25,480 VND/USD.

In the free market, the USD/VND exchange rate is currently trading around 25,610 - 25,720 VND/USD, up 40 VND for buying and 50 VND for selling.

The EUR exchange rate at the State Bank of Vietnam has slightly decreased, currently 24,569 VND (buy) and 27,156 VND (sell).

The Japanese Yen exchange rate at the State Bank of Vietnam also decreased slightly, buying and selling at 150 - 166 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-13-11-2024-usd-tiep-tuc-da-tang-manh/20241113090133555