Foreign exchange prices on January 19, 2025: USD falls after a long increase

DNVN - On January 19, 2025, the central exchange rate of Vietnamese Dong to USD remained unchanged, remaining at 24,341 VND.

Foreign exchange prices on January 17, 2025: USD continues to weaken, Index slips below 109 mark

USD exchange rate on the world market

The Dollar Index (DXY), which reflects the fluctuations of the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), decreased slightly by 0.01 points, stopping at 109.35 in the trading session on January 18, 2025.

The US dollar gained against other currencies in recent trading, but ended the week lower after six consecutive weeks of gains, as investors await the inauguration of US President-elect Donald Trump and specific policies from the new administration.

On the other hand, the Japanese yen is on track for its biggest weekly gain in more than a month, as expectations of a rate hike by the Bank of Japan (BOJ) next week are growing, putting downward pressure on the US dollar.

The Japanese yen has gained more than 1% against the dollar this week, reversing last week's decline and hitting a one-month high of 154.98 against the dollar in early trading.

“The yen will remain closely tied to US interest rates. I think the greenback’s weakness this week has helped to take some of the pressure off USD/JPY,” said Brad Bechtel, global head of FX at Jefferies. “The BOJ appears poised to raise rates next week, which should be positive for the yen. But with the interest rate differential still so wide, it’s unlikely that USD/JPY will fall much further.”

Comments from BOJ officials coupled with data from Japan indicating continued price pressures and strong wage growth have created expectations that a change in interest rates is coming, with an 80% chance the BOJ will make a rate hike next week.

The strong growth of the US dollar in recent weeks has been largely driven by the growth of Treasury bond yields, reflecting the belief that President-elect Trump's policies could create inflation as the US economy stabilizes.

Markets are now focused on Donald Trump’s new term and the impact of his policies on macro factors. Investors are waiting for Trump’s inauguration speech on January 20 to get a clearer view of his policy strategy.

Domestic USD exchange rate

In the domestic market, at the beginning of the trading session on January 19, the State Bank announced that the central exchange rate of the Vietnamese Dong against the USD remained stable at 24,341 VND.

The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged at: 23,400 VND - 25,450 VND.

Specifically, at Vietcombank , the USD exchange rate is 25,120 - 25,510 VND/USD, unchanged in both buying and selling compared to yesterday.

TPB Bank is buying USD cash at the lowest price: 1 USD = 24,390 VND

TPB Bank is buying USD transfers at the lowest price: 1 USD = 24,430 VND

Hong Leong Bank is buying USD cash at the highest price of: 1 USD = 25,265 VND

VietinBank is buying USD transfers at the highest price: 1 USD = 25,549 VND

TPB Bank is selling USD cash at the lowest price: 1 USD = 24,870 VND

OCB Bank is selling USD transfers at the lowest price: 1 USD = 25,462 VND

ABBank, Eximbank, LPBank, MSB, OceanBank, Saigonbank, UOB, VietCapitalBank, VRB are selling USD cash at the highest price: 1 USD = 25,558 VND

ABBank and MSB are selling USD transfers at the highest price: 1 USD = 25,558 VND

The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 23,828 VND - 26,336 VND.

The Japanese Yen exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 149 VND - 165 VND.