Central rate continues to fall sharply

On the morning of November 20, the domestic USD price fluctuated in opposite directions. For example, Eximbank continued to list the buying price at 24,000 VND and the selling price at 24,400 VND as last weekend. Vietcombank alone increased by 15 VND, bringing the buying price to 24,070 VND and the selling price to 24,440 VND...

Meanwhile, the central exchange rate of the Vietnamese Dong against the USD announced by the State Bank fell below 24,000 VND last week. On the morning of November 20, the central exchange rate continued to fall to 23,954 VND, down 18 VND compared to the end of last week. Currently, the State Bank kept the spot buying price unchanged at 23,400 VND/USD and the selling price at 25,120 VND.

USD price on the morning of November 20 stood at a low level

The world USD price remains low. The USD-Index started the week at around 103.85 points, unchanged from last weekend. The greenback recorded a sharp decline compared to other major currencies after concerns grew about the weakening global economic outlook. At the same time, expectations that the US will stop raising interest rates also made it difficult for the USD price to recover.

Similarly, over the weekend, the yield on the 10-year US Treasury bond fell to its lowest level since September, at one point dropping to 4.379% and closing the week at 4.439%.

Adam Button, currency strategist at Forexlive.com, told Kitco News that falling inflation, with the US consumer price index (CPI) falling to 3.2% in the 12 months to October, suggests the US central bank is likely to keep rates on hold, but also doesn't need to cut them anytime soon. The US Federal Reserve will keep rates high for longer than they really need to, but that just means they'll have to cut rates more, and I think those expectations are supporting gold and hurting the greenback...

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