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| Foreign exchange rates today, November 9: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... The greenback is stable, the Fed ends raising interest rates? (Source: Capital) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 9 was announced by the State Bank at 24,002 VND/USD, an increase of 17 VND/USD compared to yesterday.
Domestic market:
USD exchange rate for buying is 24,160 VND/USD, selling is 24,530 VND/USD.
EUR exchange rate for buying is 25,361 VND/EUR and selling is 26,731 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,230 VND/USD, selling is 24,530 VND/USD.
EUR exchange rate for buying is 25,615 VND/EUR, selling is 26,798 VND/EUR.
| STT | Currency code | Currency name | Bank rate commerce Buy | Bank rate commerce Sell | *State Bank exchange rate Apply import and export from November 9-15 |
| 1 | EUR | Euro | 25,361.01 | 26,753.38 | 25,632.77 |
| 2 | JPY | Japanese Yen | 157.12 | 166.32 | 159.2 |
| 3 | GBP | British Pound | 29,134.90 | 30,375.35 | 29,446.38 |
| 4 | AUD | Australian Dollar | 15,268.82 | 15,918.91 | 15,424.75 |
| 5 | CAD | Canadian Dollar | 17,235.73 | 17,969.56 | 17,411.98 |
| 6 | RUB | Russian Ruble | 251.01 | 277.89 | 259.72 |
| 7 | KRW | Korean Won | 16.08 | 19.49 | 18.31 |
| 8 | INR | Indian Rupee | 291.74 | 303.42 | 288.07 |
| 9 | HKD | Hong Kong Dollar (China) | 3,037.38 | 3,166.70 | 3,068.59 |
| 10 | CNY | Chinese Yuan China | 3,278.33 | 3,418.42 | 3,295.87 |
(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 0.01% to 105.53.
The greenback exchange rate in the world today is stable, only decreasing slightly. The Euro increases, the British Pound decreases.
Specifically, the greenback stabilized in the last trading session, after a sharp sell-off last week due to growing confidence that the US Federal Reserve (Fed) has ended its interest rate hike cycle.
Many economists and analysts expect the US economy to slow in the fourth quarter, which would reduce the likelihood of further rate hikes and would also reduce the appeal of the greenback, which has benefited from the resilience of the US economy relative to other major economies.
“The dollar is vulnerable to bad data,” said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto, Canada. “The market is turning to sell the dollar after buying the dip.” That suggests the dollar could continue to rally in the short term, given its recovery from last week’s sell-off.
“This is fundamentally a period of consolidation for the dollar,” Osborne said.
The greenback was hit after Fed Chairman Jerome Powell struck a dovish tone at the Fed’s two-day policy meeting last week, deciding to leave interest rates unchanged. Powell also did not comment on monetary policy in his speech on November 9.
According to the CME FedWatch Tool, futures contracts are pricing in about a 17% chance that the Fed will raise rates in January next year, and an 18% chance that the Fed will cut rates in March.
Elsewhere, the euro rose 0.02 percent to $1.0702. The common currency had retreated after data showed retail sales fell 0.3 percent in September from the previous month.
Meanwhile, the US dollar rose 0.41% to 151.03 Japanese yen; the British pound fell 0.12% to 1.2283 USD, after hitting a seven-week high against the dollar earlier this week.
The Australian dollar fell 0.57% to $0.6400. The Reserve Bank of Australia (RBA) raised interest rates to a 12-year high on November 7, ending its recent policy tightening cycle.
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