Foreign exchange rate on November 26, 2024: USD slightly increased

On November 26, the exchange rate between Vietnamese Dong (VND) and US Dollar (USD) and Chinese Yuan (CNY) at banks recorded a slight increase compared to the early morning session on November 25.

USD exchange rate on international market

The Dollar Index (DXY), which compares the USD with six other major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell 0.66% to 106.89 as of December 25, 2024.

The greenback slipped from a two-year high on Tuesday as the U.S. Treasury market reacted positively to President-elect Donald Trump’s nomination of hedge fund manager Scott Bessent as Treasury secretary, with markets expecting Bessent to implement a tighter fiscal policy than initially feared.

In response to the news, the yield on 10-year Treasury bonds fell 14 basis points, the largest drop since August. The yield on 2-year bonds also fell sharply, causing the interest rate advantage of the USD to decrease.

The dollar index, which measures the greenback's strength against six other currencies including the Japanese yen and the euro, fell 0.61% to 106.83, down 1% from a two-year high hit on Friday.

Trading was quiet today, partly due to the Thanksgiving holiday in the US on Thursday and Friday. This week, important data will be released on Wednesday, including US third-quarter GDP figures and October's Personal Consumption Expenditures price index.

The US dollar has been on an eight-week winning streak as technical indicators point to strong buying, driven by expectations that Trump's policies will push up inflation, further supporting the greenback.

“Many US assets have been overvalued over the past three weeks and the market seems to need a pause to adjust the dollar position,” said Geoff Yu, a strategist at BNY.

USD exchange rate in domestic market

Specifically, the central exchange rate announced by the State Bank is currently 24,295 VND/USD, up 3 VND compared to the previous day. With a fluctuation range of +/-5%, the ceiling exchange rate for the day is 25,510 VND/USD, while the floor rate is 23,080 VND/USD. The reference exchange rate at the State Bank's Exchange is maintained at 23,400 - 25,450 VND/USD (buy - sell).

At the commercial banking system, at 8:38 a.m., both Vietcombank and BIDV listed the USD exchange rate at 25,200 - 25,509 VND/USD (buy - sell). Compared to the morning of November 25, at Vietcombank, the exchange rate increased by 3 VND in both directions, while at BIDV, the selling price increased by 3 VND but the buying price remained unchanged.

Regarding the CNY exchange rate, this morning Vietcombank listed it at 3,456 - 3,567 VND/CNY (buy - sell), up 1 VND in both directions. At the same time, BIDV also adjusted the rate up 3 VND for both buying and selling, with the current listed rate being 3,468 - 3,566 VND/CNY.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/ty-gia-ngoai-te-ngay-26-11-2024-usd-tang-nhe/20241126093955745