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| Foreign exchange rates today, November 3: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... Worried about stock recovery risks, the greenback fell sharply. (Source: freepik) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 3 was announced by the State Bank at 24,084 VND/USD, down 15 VND/USD compared to the previous day.
Domestic market:
USD exchange rate for buying is 24,380 VND/USD, selling is 24,750 VND/USD.
EUR exchange rate for buying is 25,374 VND/EUR and selling is 26,767 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 25,609 VND/EUR, selling is 26,812 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 November 2-8 |
| 1 | EUR | Euro | 25,374.69 | 26,767.42 | 25,457.26 |
| 2 | JPY | Japanese Yen | 158.80 | 168.09 | 159.23 |
| 3 | GBP | British Pound | 29,146.77 | 30,387.27 | 29,239.23 |
| 4 | AUD | Australian Dollar | 15,382.88 | 16,037.59 | 15,257.97 |
| 5 | CAD | Canadian Dollar | 17,311.08 | 18,047.85 | 17,356.44 |
| 6 | RUB | Russian Ruble | 250.81 | 277.66 | 258.48 |
| 7 | KRW | Korean Won | 15.83 | 19.19 | 17.74 |
| 8 | INR | Indian Rupee | 294.39 | 306.18 | 289.28 |
| 9 | HKD | Hong Kong Dollar (China) | 3,062.25 | 3,192.58 | 3,078.82 |
| 10 | CNY | Chinese Yuan China | 3,289.16 | 3,429.66 | 3,291.30 |
(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) decreased by 0.73% to 106.15.
The greenback exchange rate in the world today decreased. The Japanese Yen and the Euro both increased.
Specifically, the greenback continued to plummet in the last trading session, as investors were too worried about risks, as they bet that the US Federal Reserve (Fed) had completed tightening monetary policy with the decision to keep interest rates unchanged.
The Fed decided to keep interest rates unchanged at its November policy meeting, while analyzing financial conditions to determine whether it can contain inflation. However, investors are supporting the view that US interest rates have peaked, while Fed funds futures predict a less than 20% chance of a December rate hike. That view has made investors more nervous, but it has helped stocks recover.
The Fed may be done raising interest rates, but it makes sense for the Fed to raise rates again given the resilience of the US economy, said Brad Bechtel, global head of FX at Jefferies in New York.
Meanwhile, Shaun Osborne, chief currency strategist at Scotia Bank, said: “The market did not price in any further rate hikes ahead of the Fed’s November policy meeting, so there were no surprises after the Fed’s decision. However, after this meeting, some investors believe that the Fed’s next move will be a rate cut.”
In contrast, the British pound rose after the Bank of England (BoE) kept interest rates at a 15-year high and stressed that it would not cut rates anytime soon. Accordingly, the pound rose 0.6% against the greenback to $1.2225, a 1-1/2 week high, after the BoE decided to keep interest rates steady at 5.25%.
Against the Japanese yen, the dollar fell 0.3 percent to 150.44, slipping from a one-year high hit earlier this week. The decline to a one-year low of 151.74 against the dollar and a 15-year low of 160.83 against the euro after the Bank of Japan announcement had traders expecting further intervention from the Japanese government.
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