On the morning of November 26, the USD price at commercial banks recorded a week of recovery. Eximbank bought at 24,040 and sold at 24,430 VND, an increase of 30 - 40 VND compared to the end of last week. Or Vietcombank bought at 24,050 VND and sold at 24,420 VND, an increase of 5 VND after a week...
Similarly, the euro price at Vietcombank was bought at 25,752 VND and sold at 27,166 VND, an increase of 113 VND after a week. The Japanese yen was bought at 157.56 VND and sold at 166.79 VND, an increase of 1.08 VND...
USD price at commercial banks increased slightly this week
The International Monetary Fund (IMF) recently forecast that Vietnam's FDI disbursement will grow by about 5.1% in 2024, while indirect capital flows, including securities, will remain positive but at a low level because USD interest rates have not cooled down. Vietnam's foreign exchange reserves are forecast to reach about 100 billion USD this year and more than 110 billion USD in 2024. This is a fairly safe level, equivalent to about 17-18 weeks of imports. This is expected to help Vietnam have more room to stabilize the exchange rate in the context that inflation in the coming time is forecasted not to be a major risk to the economy .
The world USD price remains low as the USD-Index continues to stand below 104 points. At the end of the week, the USD-Index reached 103.41 points, 0.43 points lower than the end of last week. On the contrary, the euro increased in value against the USD when it was converted to 1.0946 USD while the Japanese yen was converted to 0.0067 USD...
The greenback hovered at low levels as many investors still expect the US Federal Reserve (Fed) to stop raising interest rates. But many forecasts about when the Fed will start cutting interest rates are uncertain, with some suggesting March 2024 while most expect May 2024. Loosening monetary policy tends to weaken the USD...
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