DNVN - On December 3, 2024, the central exchange rate slightly decreased by 11 VND while the Dollar Index increased sharply, reaching 106.39 points.
USD exchange rate on international market
The Dollar Index (DXY), which measures the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), closed at 106.39 points, up 0.65 points from the transaction on December 2, 2024.
The USD's recovery was fueled by tough statements from US President-elect Donald Trump towards the BRICS countries. Mr. Trump affirmed that "maintaining the key role of the USD is a top priority" and warned of imposing tariffs of up to 100% on countries that want to separate from this currency.
However, the economic situation in China has also increased the attractiveness of the dollar as a safe haven. Although manufacturing activity in China showed signs of recovery in November, the country’s bond market reflects underlying weakness. The yield on China’s 10-year bond has fallen below 2%, below the equivalent yield in Japan.
Analysts warn that the strengthening dollar could put pressure on emerging markets. Some say that Trump’s tough trade policies, combined with the possibility of the Federal Reserve cutting interest rates, could create significant volatility in the coming period.
Fed Governor Christopher Waller said a rate cut could be considered later this month, but cautioned against economic and geopolitical risks. Key economic events this week include inflation data from South Korea, the Philippines and Thailand, along with major reports from the US such as PMI and non-farm payrolls.
New developments in the international market along with Fed policies are expected to continue to affect the USD exchange rate in the coming time.
Domestic USD exchange rate
In the domestic market, on the morning of December 3, the State Bank of Vietnam announced a central exchange rate decrease of 11 VND, reaching 24,240 VND/USD.
The reference exchange rate at the State Bank of Vietnam remains unchanged, maintaining the buying and selling rates at VND23,400 and VND25,450, respectively.
Specifically, at Vietcombank, the USD exchange rate remains at 25,119 - 25,452 VND/USD for buying and selling.
BIDV Bank announced a slight decrease in the buying price by 2 VND, while the selling price remained unchanged, currently listed at 25,150 - 25,452 VND/USD. At Techcombank, the buying price increased by 44 VND, to 25,130 VND/USD, while the selling price remained at 25,452 VND/USD.
Eximbank maintained the USD exchange rate unchanged, currently trading at 23,721 - 25,452 VND/USD. ACB Bank increased the buying rate by 30 VND, to 24,160 VND/USD, while the selling rate remained unchanged at 25,452 VND/USD.
In the free market, the USD/VND exchange rate decreased by 55 VND compared to the previous session, currently fluctuating around 25,555 - 25,675 VND/USD.
Other currency rates
The EUR exchange rate at the State Bank of Vietnam increased slightly, reaching the buying and selling rates of VND24,339 and VND26,901, respectively.
Similarly, the Japanese yen exchange rate also increased, currently at 153 VND - 169 VND for buying and selling.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-3-12-2024-dong-usd-tang-manh-tro-lai-ve-moc-106/20241203081006818
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