The USD continues to plummet.

The USD price continues to plummet. — The US dollar continues to fall. (Illustration photo: Tra My)

What is the exchange rate of 1 USD to VND today?

The central exchange rate is listed by the State Bank of Vietnam at 23,923 VND/USD.

The black market USD exchange rate today is 24,070 - 24,440 VND (buy - sell).

Today's USD exchange rate at Vietcombank is listed at 24,070 VND - 24,440 VND (buying rate - selling rate).

The current Euro exchange rate at Vietcombank is 25,775 VND - 27,190 VND (buying rate - selling rate).

The current exchange rate for the Japanese Yen is 159.60 VND - 168.95 VND (buying rate - selling rate).

The current exchange rate for the British Pound is 29,895 VND - 31,168 VND (buying rate - selling rate).

The exchange rate for the Chinese Yuan today is 3,330 VND - 3,473 VND (buying rate - selling rate).

Today's USD exchange rate

The US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recorded a level of 103.30 points.

The US dollar continued to fall today as the market believes interest rates in the US have peaked.

The USD Index fell 0.145% to 103.30, after hitting its weakest monthly performance in a year in November. US consumer spending rose moderately in October.

The personal consumer price index (PCE) rose 3% in October compared to a year earlier, but remains above the Federal Reserve's 2% target.

Ryan Brandham, a capital markets expert at Validus, said: “While 3% is still high enough to declare victory over inflation, it marks a new low for interest rates. This will likely please the Fed. However, we still need to watch from now until prices fall to 2%.”

Fed officials are still leaving open the possibility of raising interest rates again. According to the CME FedWatch tool, there is a 97% probability that the Fed will keep interest rates unchanged at its December meeting. The likelihood of a rate cut in March of next year has increased from 27% to 42%. Investors' attention has now shifted to Chairman Powell's upcoming speech.

Carol Kong, a currency expert at Commonwealth Bank of Australia, said: “We expect Powell to reiterate the possibility of further tightening of monetary policy and dampen expectations of a rate cut. Further easing would weaken the Federal Open Market Committee’s (FOMC) efforts. However, we don’t expect them to raise interest rates further.”

In Europe, eurozone inflation fell more than expected for the third consecutive month. Markets are anticipating that the European Central Bank will begin easing monetary policy.

The euro rose 0.13% to 1.0902 EUR/USD. On a weekly basis, the common European currency fell 0.3%. The British pound was trading at 1.2643 USD, up 0.17% on the day.

The yen rose 0.31%, narrowing the exchange rate to 147.73 JPY/USD. Japan indicated it may eliminate its negative interest rate policy from April 2024.

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