Foreign exchange prices on January 3, 2025: USD hits new high, Index surpasses 109

DNVN - The central exchange rate on January 3, 2025 of the Vietnamese Dong to the USD increased by 7 VND, currently recorded at 24,342 VND.

USD exchange rate on international market

The Dollar Index (DXY), which reflects the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), reached 109.27, up 0.79 points from January 2, 2025.

The highest increase in the past 2 years of the USD was recorded in the first session of 2025, continuing the upward trend from last year thanks to expectations of outstanding US economic growth along with higher interest rates compared to other countries.

According to the Fed, the US central bank remains cautious in cutting interest rates because inflation exceeds the 2% target and the US economy remains stable.

In addition, the policies that President-elect Donald Trump has pledged are also expected to boost growth and increase inflationary pressures.

Recent data shows the US labor market continues to stabilize, with new jobless claims falling to an eight-month low at the end of 2024, suggesting layoffs remain limited.

In 2025, the USD is expected to maintain its strength if the Fed remains cautious with its interest rate decisions and if Trump’s policies boost inflation expectations. However, intervention from Japan or policy changes from the ECB could cause volatility in the currency market, but the overall outlook for the USD remains positive.

Meanwhile, the EUR fell 1.01% to $1.025, its lowest level since November 2022.

The common European currency continued to fall sharply, breaking the $1.03 threshold, with expectations that the ECB will cut interest rates deeply in 2025. The market forecasts at least four cuts, each of 25 basis points.

On January 2, ECB member Yannis Stournaras shared that the main interest rate could be reduced from 3% to 2%.

The pound also came under pressure, falling 1.19% to $1.2368, its lowest since April, after breaking through resistance at $1.2475.

On the other hand, the USD gained 0.47% against the Japanese yen, reaching 157.61 yen.

The dollar hit a five-month high of 158.09 yen in late December, putting pressure on the Bank of Japan to raise interest rates earlier this year.

Domestic USD exchange rate

In the domestic market, on the morning of January 3, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 7 VND, to 24,342 VND.

The exchange rate at the State Bank of Vietnam remained unchanged, maintaining a buying rate of VND23,400 and a selling rate of VND25,450.

Vietcombank adjusted the price up 8 VND for both buying and selling, listed at 25,229 - 25,559 VND/USD.

At TPB, the lowest cash USD purchase price is 24,390 VND and transfer is 24,430 VND.

HSBC recorded the highest USD cash purchase at VND25,385, while VietinBank led the transfer purchase at VND25,559.

On the selling side, TPB has the lowest price of 24,870 VND for cash and VIB lists the transfer price at 25,525 VND.

The highest USD cash selling rate of VND 25,559 is applied at banks such as ABBank, Vietcombank and VPBank.

The EUR exchange rate decreased slightly at the State Bank of Vietnam, currently at 23,933 - 26,452 VND.

The Japanese yen exchange rate here also decreased, recording buying and selling rates of 147 - 162 VND respectively.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-3-1-2025-usd-dat-muc-cao-moi-index-vuot-nguong-109/20250103073754077