Japanese Yen Exchange Rate May 12: Continues to Decrease at Banks

Japanese Yen exchange rate on May 12: Japanese Yen continues to decrease at most domestic commercial banks, leading to a downward trend in the free market.

At Vietcombank , the buying rate is 172 VND/JPY and the selling rate is 182.93 VND/JPY, down slightly by about 0.2 VND compared to the previous session. VietinBank also adjusted both rates down, with the buying price at 174.55 VND and the selling price at 182.55 VND.

At Agribank , the current exchange rate is 173.66 VND/JPY (buy) and 181.48 VND/JPY (sell), 0.24 - 0.26 VND lower than yesterday. BIDV recorded a stronger decrease, specifically buying at 174.17 VND and selling at 182.31 VND, both down about 0.7 VND.

Several other banks such as Eximbank, HSBC, Sacombank and Techcombank also adjusted their prices down from 0.3 to nearly 0.8 VND. Of these, Eximbank is currently the bank with the highest buying price (174.67 VND/JPY) and the lowest selling price (180.69 VND/JPY), as of the time of the survey.

On the black market, the Japanese Yen exchange rate also cooled down. The buying price decreased to 178.82 VND/JPY, while the selling price decreased to 180.01 VND/JPY, recording adjustments of 0.19 and 0.95 VND, respectively.

Thus, the buying rate at banks currently fluctuates between 171.35 - 174.67 VND/JPY, while the selling rate is in the range of 180.69 - 183.95 VND/JPY.

In the trading session on May 12, the Japanese yen (JPY) fell to a one-month low against the US dollar (USD).

The main reason was the optimistic sentiment in the market after the US and China concluded trade negotiations in Switzerland with positive results. This caused investors to withdraw from safe assets such as JPY, while boosting the strength of USD.

In addition, concerns about Japan's economic outlook amid uncertainty over US tax policy also contributed to pressure on the yen. In contrast, the US dollar was supported by the US Federal Reserve's recent cautious stance and a brighter US economic outlook, easing fears of a recession.

Still, traders are cautiously awaiting a joint statement from the US and China after the talks. In addition, stronger-than-expected household spending data from Japan released on Friday helped strengthen the case that the Bank of Japan (BoJ) will continue to normalize monetary policy, thereby limiting further declines in the JPY.

The divergence between the BoJ and Fed policy directions is creating a new equilibrium for USD/JPY. While the BoJ is expected to raise interest rates again, the Fed faces the possibility of three rate cuts this year. This is forcing investors to think twice before continuing to bet on the recent bullish momentum in USD/JPY, especially after the pair's strong recovery from below 140.00.

Source: https://baoquangnam.vn/ty-gia-yen-nhat-ngay-12-5-tiep-tuc-giam-tai-cac-ngan-hang-3154573.html