 |
| Foreign exchange rates today, March 16: USD, Euro, AUD, CAD, Japanese Yen, British Pound... SCB 'screws' Credit Suisse to all-time low, greenback rises to become a safe haven. (Source: Reuters) |
Foreign exchange rates today March 16
The central exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of March 15 was announced by the State Bank at 23,622 VND/USD, an increase of 4 VND compared to yesterday.
With the +/- 5% margin currently applied, the ceiling rate applied by banks today is 24,803 VND/USD and the floor rate is 22,441 VND/USD.
At commercial banks, this morning, the USD price fluctuated in opposite directions, while the Chinese Yuan (CNY) price reversed and decreased.
At 8:30 a.m., at Vietcombank , the greenback price was listed at 23,390 - 23,760 VND/USD (buy - sell), an increase of 10 VND in both buying and selling compared to yesterday.
The listed CNY price is 3,344 - 3,488 VND/CNY (buy - sell), down 18 VND in both buying and selling compared to yesterday.
The USD price at BIDV is listed at 23,420 - 23,720 VND/USD (buy - sell), down 20 VND in both buying and selling compared to yesterday.
The CNY price at this bank is listed at 3,357 - 3,492 VND/CNY (buy - sell), down 19 VND for buying and 23 VND for selling compared to yesterday.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply for import and export from March 16-22 (to illuminate) |
| 1 | EUR | Euro | 24,334.63 | 25,707.93 | 25,350.27 |
| 2 | JPY | Japanese Yen | 172.54 | 182.74 | 175.32 |
| 3 | GBP | British Pound | 27,746.34 | 28,941.50 | 28,699.45 |
| 4 | AUD | Australian Dollar | 15,243.60 | 15,900.21 | 15,775.13 |
| 5 | CAD | Canadian Dollar | 16,721.02 | 17,441.27 | 17,260.3 |
| 6 | RUB | Russian Ruble | 294.87 | 326.60 | 313.12 |
| 7 | KRW | Korean Won | 15.55 | 18.96 | 18.12 |
| 8 | INR | Indian Rupee | 283.70 | 295.20 | 286.33 |
| 9 | HKD | Hong Kong Dollar (China) | 2,927.84 | 3,053.95 | 3,008.9 |
| 10 | CNY | Chinese Yuan China | 3,357.00 | 3,492.00 | 3,393.06 |
(Source: State Bank, Vietcombank)
Exchange rate developments in the world market
At the beginning of the trading session, in the US market, the DXY (US Dollar Index) measuring the fluctuations of the greenback against 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased sharply by 1.15%, reaching 104.75.
In the world market, the greenback exchange rate increased sharply, the British Pound decreased, and the Japanese Yen increased.
The greenback rose in the last trading session, as investors sought safe havens after Credit Suisse shares fell to an all-time low.
Credit Suisse's 2022 annual report released on March 14 showed that financial reporting controls "have not prevented customer withdrawals."
Concerns about Swiss banks sent the pan-European banks index (SX7P) down 6.9%, its biggest one-day drop in nearly 13 months, and sent European and U.S. bond yields tumbling. That has stoked some investors’ concerns about the resilience of the global banking system following SVB’s collapse.
A number of economists have weighed in. “It seems like central banks are struggling to tighten policy to address the problems in the economy,” said Bipan Rai, head of North American foreign exchange strategy at CIBC Capital Markets in Toronto.
“Credit Suisse’s troubles are different from the Silicon Valley Bank debacle in the US because Credit Suisse has been beset by years of poor management,” said Mark Stoeckle, managing director and senior portfolio manager at Adams Funds in Baltimore.
“This is both a push for investors to buy safe-haven, quality assets and a re-pricing of rate hike expectations,” said Kevin Flanagan, head of fixed income strategy at WisdomTree.
CME's FedWatch tool shows that the market is pricing in a 60.1% chance that the Fed will not raise interest rates at its policy meeting on March 21-22.
In other developments, Simon Harvey, head of FX analysis at Monex, said: “The Credit Suisse news has caused major damage in FX markets as European bank stocks have fallen sharply.” Markets are now pricing in a 60% chance of a 25 basis point increase in eurozone interest rates.
As a result, the USD increased by 1.94% against the Swiss Franc, while the British pound decreased by 0.83% to 1.2057 USD; the Japanese Yen increased by 0.72% to 133.24/USD.
 | Foreign exchange rates today, March 15: USD, Euro, AUD, CAD, Japanese Yen, British Pound... Shock over, greenback increases slightly Update foreign exchange rates today March 15, USD, Euro, AUD, CAD, Pound, Japanese Yen, exchange rates... No more shock... |
 | Two consecutive US banking giants have collapsed. Is financial chaos enough to make the Fed 'hesitate'? There is no denying the fact that the latest inflation figures are reminding watchers of... |
 | OCOP Quang Ninh gradually becomes a strong brand in the market With a focus on developing OCOP products in a specialized, professional and sustainable manner, OCOP Quang Ninh is gradually... |
 | Russian oil is about to be shipped to a South Asian country, selling price is only 50 USD/barrel Pakistan is looking to buy Russian oil at $50 a barrel, as the South Asian nation grapples with a ... |
 | National Conference on Tourism 2023: Looking Frankly to Find Solutions Vietnam is recognized by the World Tourism Organization (UNWTO) as one of the countries with an open-door policy on ... |
Source
Comment (0)