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| Foreign exchange rates today, November 1: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... Tough Fed, greenback rises strongly again. (Source: BSGStudio) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 1 was announced by the State Bank at 24,089 VND/USD, an increase of 2 VND/USD compared to the previous day.
Domestic market: At commercial banks on the morning of November 1. Specifically as follows:
USD exchange rate for buying is 24,370 VND/USD, selling is 24,740 VND/USD.
EUR exchange rate for buying is 25,309 VND/EUR and selling is 26,698 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,420 VND/USD, selling is 24,720 VND/USD.
EUR exchange rate for buying is 25,587 VND/EUR, selling is 26,789 VND/EUR.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from October 26 to November 1 |
| 1 | EUR | Euro | 25,309.30 | 26,698.45 | 25,524.99 |
| 2 | JPY | Japanese Yen | 157.72 | 166.96 | 161.00 |
| 3 | GBP | British Pound | 29,055.90 | 30,292.56 | 29,294.61 |
| 4 | AUD | Australian Dollar | 15,144.40 | 15,788.97 | 15,360.28 |
| 5 | CAD | Canadian Dollar | 17,249.19 | 17,983.34 | 17,522.92 |
| 6 | RUB | Russian Ruble | 250.54 | 277.37 | 258.46 |
| 7 | KRW | Korean Won | 15.67 | 18.99 | 17.86 |
| 8 | INR | Indian Rupee | 294.24 | 306.01 | 289.75 |
| 9 | HKD | Hong Kong Dollar (China) | 3,060.07 | 3,190.31 | 3,078.72 |
| 10 | CNY | Chinese Yuan China | 3,289.30 | 3,429.81 | 3,294.13 |
(Source: State Bank and commercial banks)
Exchange rate developments in the world market
In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.58% to 106.70.
The greenback exchange rate in the world today increased strongly again. The Japanese Yen was in the opposite direction, decreasing sharply.
Specifically, the USD is strong again, supported by the US Federal Reserve's (Fed) hawkish stance, in the context of the country's sustainable and stable economy.
In the US, new data released on October 31 continued to demonstrate a resilient economy, the latest sign supporting the Fed's ability to maintain high interest rates for a certain period of time.
US labor costs rose sharply in the third quarter amid strong wage growth. The Labor Expenditure Index (ECI) rose 1.1% in the previous quarter, following a 1.0% increase in the April-June period.
Other data showed that US home prices accelerated for a third straight month in August, rising 5.6% year-on-year, up from 4.6% the previous month.
Also on October 31, the Fed began a two-day policy meeting and is expected to keep interest rates steady, but it will maintain its dovish stance at the end of the meeting. Analysts said soaring US Treasury yields and a sell-off in the stock market have tightened financial conditions, giving the Fed room to make a tough decision.
Meanwhile, the Japanese Yen fell sharply in the last trading session, reaching a 15-year low against the EUR, and hitting a new one-year low against the USD.
At the end of its two-day policy meeting, the Bank of Japan (BOJ) continued to ease its control of long-term interest rates by adjusting its bond yield control policy once again. The BOJ said it would keep the yield on 10-year government bonds at 0%.
The Japanese yen slid to 151.715 per dollar, a new one-year low, as traders focused on the BOJ's dovish stance on maintaining its easing policy and forecasting inflation to fall below 2% by 2025.
The yen had earlier risen to a two-week high on October 30 following a Nikkei report that the BOJ would adjust its yield curve control policy.
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