On the morning of December 27, the central exchange rate between VND and USD announced by the State Bank was 23,885 VND, up 15 VND compared to yesterday. USD prices at commercial banks also increased sharply. For example, Eximbank increased 80 VND compared to yesterday, bringing the buying price to 24,090 VND, selling price to 24,480 VND; Vietcombank added 70 VND, buying price to 24,410 VND and selling price to 24,470 VND...
Similarly, the USD price increased by 40 VND in buying, to 24,740 VND, and increased by 20 VND in selling, to 24,820 VND.
USD price in banks increased sharply on the morning of December 27
Gold fluctuations on December 26
The international USD price continues to decline. The USD-Index is at 101.17 points, down 0.08 points compared to yesterday. Currently, according to the CME Group tool, the market predicts a 70% probability that the US Federal Reserve (Fed) will cut interest rates at its meeting in March 2024. Lower interest rates are often seen as a disadvantage for the USD, making assets priced in the greenback less attractive.
A Reuters poll of 71 foreign exchange strategists in early December 2023 showed expectations that the dollar will fall against the world’s leading currencies by 2024, with most of the decline coming in the second half of the year. Whether this forecast is correct may depend on how the U.S. economy performs relative to other global economies next year and how quickly central banks adjust monetary policy. Even a faster pace of rate cuts could accelerate the dollar’s decline.
On the contrary, expectations of interest rate cuts have pushed the US stock market to continuously increase. At the end of the session on December 26 (early morning of December 27, Vietnam time), the Dow Jones index increased by 159.36 points, equivalent to 0.43% to 37,545.33 points. The S&P 500 index increased by 0.42%, closing the session at 4,774.75 points and is only about 22 points away from the historical peak recorded in January 2022. The Nasdaq Composite index inched up 0.54% to 15,074.57 points. Meanwhile, the Nasdaq 100 index increased by 0.6%, reaching an all-time high of 16,878.46 points.
Source link
Comment (0)