Foreign exchange rates, USD/VND exchange rate today January 2: Signaling the strength of the greenback

Foreign exchange rates, USD/VND exchange rate today, January 2, recorded that USD continued to maintain the previous upward momentum, signaling the strength of the greenback in the context of cautious market sentiment.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: January 23, 2025 04:00 - Time of website source supply
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	24,980	24,990	25,330
EUR	EUR	25,713	25,816	26,902
GBP	GBP	30,471	30,593	31,566
HKD	HKD	3,166	3,179	3,285
CHF	CHF	27,234	27,343	28,215
JPY	JPY	157.78	158.41	165.39
AUD	AUD	15,477	15,539	16,054
SGD	SGD	18,264	18,337	18,863
THB	THB	724	727	759
CAD	CAD	17,243	17,312	17,819
NZD	NZD		14,029	14,524
KRW	KRW		16.78	18.54

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 9:00 a.m. on January 1, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,335 VND, an increase of 8 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,221 - 25,551 VND.

Vietinbank : 25,230 - 25,551 VND.

Foreign exchange rates, USD/VND exchange rate today January 2: Signaling the strength of the USD. (Source: Capital)

Exchange rate developments in the world market

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 108.48.

Some markets were closed for the New Year holiday, while the DXY index ended the year near its highest level in more than two years.

The prospect that the US Federal Reserve will keep interest rates higher for longer, along with expectations of policies put forward by US President-elect Donald Trump, have boosted the US dollar and US bond yields.

As 2025 begins, the dollar is likely to maintain its strength if the Fed remains cautious about cutting rates and Mr Trump's policies continue to fuel inflation expectations.

While potential intervention from the Japanese authorities or policy changes from the European Central Bank (ECB) could cause volatility in currency markets, the overall outlook for the USD remains bullish in the near term.

The DXY index has hit a two-year high and is trending up on the charts. In fact, the monthly chart of the index shows an uptrend that dates back to 2008.

It is important to note that movements in the currency market tend to be stronger and longer lasting than price trends in other markets.

The Fed is likely to be more cautious about further rate cuts in the coming new year, which will also benefit investors.

According to Kitco , the US economy could face changes in 2025, including persistent inflation and headwinds from new trade tariffs from the administration of President-elect Donald Trump.

However, the US currency is likely to remain a safe haven compared to other major currencies, so any geopolitical uncertainty is likely to support the greenback.

The DXY is trading at $108.48, continuing its earlier gains, signaling strength in the greenback amid cautious market sentiment. The key level is $108.53, with resistance at $108.90 and then $109.35.

Meanwhile, the support level for the DXY index is at $107.97, followed by $107.58.

The EUR/USD pair closed the year at $1.03549, down 0.49% as the greenback strengthened. Resistance for the EUR is at $1.03923, while support is at $1.03101.