Another sad week for the USD price

Another sad week for USD price — The USD had a weak week as the market assessed that the FED would stop raising interest rates. Illustration photo: Tra My

How much is 1 USD in VND today?

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

Today's black market USD exchange rate is at 24,0780 - 24,450 VND (buy - sell).

Vietcombank USD exchange rate today is listed at 24,080 VND - 24,450 VND (buy - sell).

Vietcombank Euro exchange rate is currently at 25,781 VND - 27,197 VND (buy - sell).

The current Japanese Yen exchange rate is 159.30 VND - 168.63 VND (buy - sell).

The current British Pound exchange rate is 29,888 VND - 31,161 VND (buy - sell).

Today's Yuan exchange rate is at 3,331 VND - 3,474 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 103.30 points.

It has been a tough week for the US dollar. The greenback has rallied since the start of the week, but is still hovering near a two-month low against six other currencies.

The dollar index then fell to a three-month low, 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.

The dollar index was last down 0.2% at 103.23 after ending November with its weakest monthly performance in a year. The DXY index ended the week at a lower low for the third week in a row.

Kyle Rodda, a financial markets analyst at Capital.com, said: “Slowing growth, peaking interest rates, rate cuts next year, and unwinding long positions… That’s the driving force behind the weakening of the dollar. The dollar is likely to continue to fall.”

In addition, the USD price is also under pressure from other factors. The personal consumption expenditures (PCE) price index increased 3% in October compared to a year ago, but is still higher than the Fed's target of 2%.

The weaker greenback has been a boon for the yen, which had been approaching the 150 level after bottoming out. Meanwhile, the Bank of Japan has hinted that it could exit its negative interest rate policy in 2024. The JPY/USD pair has narrowed to 146.855.

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