USD price hits new low

How much is 1 USD in VND today?

The central exchange rate is listed by the State Bank at 23,930 VND/USD.

Today's black market USD exchange rate is at 24,060 - 24,430 VND (buy - sell).

Vietcombank USD exchange rate today is listed at 24,060 VND - 24,430 VND (buy - sell).

Vietcombank Euro exchange rate is currently at 25,897 VND - 27,319 VND (buy - sell).

The current Japanese Yen exchange rate is 159.13 VND - 166.45 VND (buy - sell).

The current exchange rate of British Pound is 29,866 VND - 31,137 VND (buy - sell).

Today's Yuan exchange rate is at 3,321 VND - 3,463 VND (buy - sell).

USD price today

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded 103.11 points.

The dollar fell to a three-month low against a basket of currencies on Tuesday, weighed down by weaker-than-expected new home sales in the United States and speculation the Federal Reserve could start cutting interest rates in the first half of next year.

Specifically, new home sales in the US fell 5.6% to 679,000 units in October. This figure was lower than the 723,000 units previously predicted by experts.

The U.S. dollar index, which measures the greenback against a basket of currencies, was last at 103.11, its lowest since Aug. 31. The dollar has fallen more than 3% in November, its worst month in a year.

The USD has been under great pressure as the market assesses that the Fed has completed its rate-hike cycle. According to the CME FedWatch tool, there is a 25% chance that the Fed could start cutting rates as early as March 2024. This probability increases to nearly 45% in May.

“Slowing growth, peaking interest rates, rate cuts next year, unwinding long positions… That’s the dynamic for the dollar to weaken. The dollar is likely to continue to weaken,” said Kyle Rodda, financial markets analyst at Capital.com.

This week, markets are now looking to the US core personal consumption expenditures (PCE) price index - the Fed's preferred inflation gauge - for confirmation that US inflation is slowing.

The PCE kicks off a slew of other important economic events this week, including China's purchasing managers' index (PMI) data and the OPEC+ decision.

OPEC+ is considering deeper oil production cuts after postponing its policy meeting until Thursday, Reuters reported.

The Australian dollar briefly hit a fresh three-and-a-half month high of $0.66105 AUD/USD, as data released Tuesday morning showed domestic retail sales fell in October compared to the previous month.

The New Zealand dollar also briefly hit its highest level since August 10 at 0.61055 NZD/USD before slipping to 0.61005. The Reserve Bank of New Zealand holds its monetary policy meeting on Wednesday and is widely expected to keep interest rates steady at 5.50% for the fourth consecutive time.

Elsewhere, the yen held steady at 148.10 JPY/USD. The recent weakness in the dollar continues to give the Japanese currency some advantage.

While the Fed’s job may be done, expectations are growing that the Bank of Japan will finally exit its easy monetary policy, with more than half of experts polled by Reuters predicting a move at its April 2024 meeting.

"The USD still holds a significant advantage over the yen. We think a sharp pullback is unlikely unless JPY/USD breaks support in the 146.50-146.30 range," Tony Sycamore, market analyst at IG, wrote in a note.

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