DNVN - On December 13, 2024, the central exchange rate of the Vietnamese Dong against the US Dollar increased by 6 dong, reaching 24,259 dong. The USD Index (DXY) is currently at 107.01 points.
USD exchange rate in the international market
The Dollar Index (DXY), a measure of the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose to 107.01, 0.7 points higher than the trading session on December 12, 2024.
The US dollar strengthened today as inflation data came in higher than expected, while the euro edged lower following the European Central Bank's fourth interest rate cut this year.
According to the U.S. Department of Labor, producer prices rose 0.4% in November compared to the previous month, far exceeding the 0.2% increase forecast by economists surveyed by Reuters.
The US dollar index, which reflects the value of the currency against six other currencies, rose 0.375% to 106.95 points, after separate inflation data reinforced expectations that the Federal Reserve will cut interest rates next week.
CME's FedWatch tool now shows a near-certain probability that the Fed will cut interest rates by another 25 basis points at its meeting on December 17-18, compared to a 78% forecast a week ago.
Karl Schamotta, market strategist at Corpay, commented: “Although the Fed is expected to cut its benchmark interest rate by another quarter point, moves from the Bank of Canada, the Swiss National Bank, and the European Central Bank over the past 24 hours have ensured that interest rate differentials between major currencies remain skewed toward the US, helping to strengthen the dollar’s position.”
At the same time, the US dollar also edged higher against the Japanese yen, trading at 152.525 yen after hitting a two-week high of 152.845 yen the previous day, as investors lowered expectations of an interest rate hike in Japan next week.
Reuters reported on December 12 that the Bank of Japan (BOJ) appears likely to keep interest rates unchanged, as it needs more time to assess external risks and wage prospects for next year.
"While expectations of a BOJ interest rate hike in January persist, this adjustment has not created a strong impetus for investors to move toward the Japanese yen," said Akira Moroga, strategist at Aozora Bank.
Domestic USD exchange rate
In the domestic market, at the start of trading on December 13th, the State Bank of Vietnam announced that the central exchange rate had increased by 6 dong compared to the previous day, reaching 24,259 dong/USD.
The reference exchange rates at the State Bank of Vietnam for buying and selling remained unchanged, at 23,400 VND - 25,450 VND/USD respectively.
At Vietcombank , the USD exchange rate increased by 6 dong in both directions, currently trading at 25,141 dong - 25,471 dong/USD.
BIDV Bank listed the buying and selling prices at 25,171 VND - 25,471 VND/USD, an increase of 6 VND compared to the previous day. Meanwhile, Techcombank also adjusted its prices to 25,140 VND - 25,471 VND/USD, increasing by 2 VND on the buying side and 6 VND on the selling side.
Eximbank maintained its buying price at 23,740 VND/USD but increased its selling price by 6 VND to 25,471 VND/USD. ACB Bank traded at 24,170 VND/USD - 25,471 VND/USD, increasing by 10 VND on the buying side and 6 VND on the selling side.
In the free market, the USD/VND exchange rate fluctuated around 25,598 VND - 25,718 VND/USD, a slight increase compared to the previous trading session.
Exchange rates of other foreign currencies
The euro exchange rate at the State Bank of Vietnam's Exchange Department has slightly decreased, currently ranging from 24,210 VND to 26,758 VND per euro.
The Japanese yen also saw a decline at the State Bank of Vietnam's Exchange, with the buying and selling rates currently at 151 dong and 167 dong respectively.
Viet Anh (compiled)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-13-12-2024-ty-gia-usd-tang-nhe-chi-so-dxy-vuot-moc-107-diem/20241213093812808
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