DNVN - On November 25, 2024, the central exchange rate of the Vietnamese Dong against the USD was listed by the State Bank at 24,295 VND. In the international market, the value of the USD continued to increase sharply and at one point reached 108 points.
USD exchange rate developments in the international market
The Dollar Index (DXY), which represents the strength of the USD against six major currencies, recorded 107.49 points this morning ( Hanoi time), unchanged from the previous session. This is considered a two-year high, reflecting the superiority of the greenback.
The upward trend of the USD is driven by several important factors:
- Positive US economic indicators: Many recent reports, including PMI and consumer spending, have demonstrated that the US economy is still maintaining positive recovery momentum. This fact increases confidence that the US Federal Reserve (Fed) will continue its tight monetary policy.
- Pressure on the Euro: Poor PMI data from the Eurozone raised concerns that the region's economy could fall into recession, leading to a decline in the value of the Euro, while pushing the DXY higher.
- Safe investment sentiment: Geopolitical instability, especially in Eastern Europe and the Middle East, has caused investors to turn to the USD as a safe asset, increasing the position of this currency.
According to experts, the upward trend of the USD is likely to continue, especially when the Fed is expected to maintain high interest rates to control inflation. Many predictions indicate that the DXY may surpass the 108 mark in the coming weeks.
USD exchange rate in domestic market
In the domestic market, in the morning trading session on November 25, the central exchange rate between the Vietnamese Dong and the USD announced by the State Bank remained at 24,295 VND.
At the State Bank of Vietnam, the reference USD exchange rate remains unchanged at 23,400 - 25,450 VND/USD (buy - sell) compared to yesterday.
In the free market in Hanoi, the USD price was traded around 25,652 - 25,752 VND/USD (buy - sell), down slightly 7 VND compared to the previous morning.
Major commercial banks recorded slight fluctuations in selling direction:
- Vietcombank: USD buying and selling prices are listed at 25,170 - 25,509 VND/USD, keeping the buying price unchanged and increasing 5 VND in selling price compared to the previous session.
- BIDV: USD buying - selling rate is at 25,209 - 25,509 VND/USD, down 1 VND for buying and up 5 VND for selling.
- VietinBank: Listed buying and selling prices at 25,220 - 25,509 VND/USD, unchanged buying price and increased 5 VND in selling price.
- Eximbank: Buying and selling rates remain at 25,200 - 25,509 VND/USD, keeping the buying price unchanged but increasing by 5 VND for selling.
Exchange rates of other currencies
The EUR at the State Bank of Vietnam Exchange slightly decreased, the buying and selling prices are currently at 24,168 - 26,713 VND.
The Japanese yen exchange rate at the State Bank of Vietnam increased slightly, trading at 150 - 165 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-25-11-2024-usd-co-vuot-moc-108-diem/20241125094323248
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