Foreign exchange prices on December 19, 2024: USD hits two-year high

DNVN - The US dollar hit a new peak, reaching its highest value in the past two years, after the Federal Reserve cut interest rates as expected.

International USD exchange rate

The Dollar Index (DXY), which represents the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 108.2, up 1.23 points from the closing level on December 18, 2024.

The dollar rose sharply against other currencies on Wednesday, hitting a two-year high after the Federal Reserve cut interest rates and signaled it would slow its monetary policy easing.

The Fed cut its benchmark interest rate by 25 basis points to a range of 4.25% to 4.50%. Policymakers also signaled a pause in rate cuts next year, citing signs of stabilization in the labor market and inflation. The yield on the benchmark 10-year US Treasury note rose 6.1 basis points to 4.446%, its highest in four weeks.

"The Fed has raised its core inflation expectations and changed the dot chart. So the market is now pricing in another rate cut next year, but at a lower rate than before. This has led to a positive reaction for the dollar," said Axel Merk, head of Merk Hard Currency Fund in Palo Alto, California.

The dollar rose 0.89% to 0.90020 against the Swiss franc, after hitting a peak of 0.90150 - its highest since July. Meanwhile, the euro fell 1.17% to $1.03695, its lowest in three weeks.

The USD index peaked at 108.260, its highest since November 2022, gaining 1.08% to its most recent high of 108.08.

"It is important to be cautious in our approach and monitor the progress of the decline in inflation," Fed Chairman Jerome Powell said at a press conference, noting that the labor market is weakening.

The US dollar hit a 15-and-a-half-year high against the South Korean won, reaching 1,454.41 - its highest level since March 2009. It was last at 1,452.19 won/USD, up 1.03%.

The dollar also rose 0.78% against the Japanese yen to 154.63, marking a three-week high. The Bank of Japan is expected to keep interest rates unchanged on Thursday.

Similarly, the Bank of England is expected to leave interest rates unchanged. The pound edged lower against both the euro and the dollar, falling 0.98% to $1.25860, its lowest in three weeks.

Sweden's Riksbank is expected to cut interest rates by half a point, while Norges Bank is expected to keep rates unchanged. The Norwegian crown fell 1.54% to $11.3677, while the Swedish crown fell 1.38% to $11.1087.

The Australian dollar fell to $0.62225, its lowest since October 2022. The New Zealand kiwi also fell to $0.56540, a record low in the past two years.

Separately, the offshore yuan traded at 7.321 per dollar on Tuesday, holding steady at a 13-month low.

Domestic USD exchange rate

On the morning of December 19, the central exchange rate of the Vietnamese Dong to the USD announced by the State Bank increased by 8 VND, reaching 24,278 VND.

The State Bank of Vietnam's exchange maintains the USD buying and selling rates unchanged, at 23,400 VND - 25,450 VND.

Vietcombank continues to list the USD buying and selling rates at 25,161 - 25,491 VND/USD, unchanged from the previous session.

BIDV Bank kept the buying and selling rates unchanged at 25,191 - 25,491 VND/USD, ending Wednesday's trading session at the same level as the previous session. Meanwhile, Techcombank raised its buying price by 22 VND to 25,197 VND/USD, keeping its selling price unchanged at 25,491 VND/USD.

Eximbank increased the buying rate by 9 VND, bringing the listed price to 23,778 - 25,491 VND/USD, while ACB remained unchanged at 24,210 - 25,491 VND/USD.

In the free market, the USD/VND exchange rate at the end of the day decreased by 10 VND in both directions, trading around 25,602 - 25,702 VND/USD.

The EUR exchange rate at the State Bank of Vietnam decreased slightly, down to 24,214 - 26,763 VND.

The Japanese Yen exchange rate increased slightly, trading at 150 - 166 VND.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-19-12-2024-usd-cham-muc-cao-nhat-trong-hai-nam/20241219092318200