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| Foreign exchange rates today, November 8: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... The greenback recovers. (Source: Reuters) |
The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 8 was announced by the State Bank at 23,985 VND/USD, down 29 VND/USD compared to yesterday.
Domestic market:
USD exchange rate for buying is 24,120 VND/USD, selling is 24,490 VND/USD.
EUR exchange rate for buying is 25,340 VND/EUR and selling is 26,731 VND/EUR.
BIDV Bank:
USD exchange rate for buying is 24,180 VND/USD, selling is 24,480 VND/USD.
EUR exchange rate for buying is 25,541 VND/EUR, selling is 26,713 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 | 25,340.66 | 26,731.98 | 25,457.26 |
| 2 | JPY | Japanese Yen | 157.11 | 166.31 | 159.23 |
| 3 | GBP | British Pound | 29,179.43 | 30,421.86 | 29,239.23 |
| 4 | AUD | Australian Dollar | 15,238.99 | 15,887.85 | 15,257.97 |
| 5 | CAD | Canadian Dollar | 17,260.03 | 17,994.95 | 17,356.44 |
| 6 | RUB | Russian Ruble | 251.02 | 277.90 | 258.48 |
| 7 | KRW | Korean Won | 16.06 | 19.47 | 17.74 |
| 8 | INR | Indian Rupee | 291.27 | 302.94 | 289.28 |
| 9 | HKD | Hong Kong Dollar (China) | 3,031.27 | 3,160.34 | 3,078.82 |
| 10 | CNY | Chinese Yuan China | 3,270.78 | 3,410.56 | 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) increased by 0.29% to 105.51.
The greenback exchange rate in the world today continues to increase again. Other major currencies decrease.
Specifically, the USD increased in price in the last trading session, after a strong sell-off last week.
“The dollar’s recovery is a correction after last week’s sharp decline,” said Marc Chandler, chief market strategist at Bannockburn Global.
Accordingly, the DXY index fell 1.4% last week, the biggest weekly decline since mid-July, after Federal Reserve Chairman Jerome Powell expressed a "dovish" view at the US Central Bank's two-day policy meeting.
A weaker-than-expected US jobs report late last week also fueled the greenback's weakness.
Traders are now pricing in a very low chance of the Fed raising rates further and are likely to deliver three 25 basis point rate cuts next year.
As the U.S. economy slows, the dollar could also weaken further, Mr. Chandler said. Data due next week are expected to show a slowdown in consumer price inflation and a drop in retail sales.
Investors also focused this week on comments from Fed officials, including Chairman Powell.
Minneapolis Fed President Neel Kashkari said the US central bank may have to do more to bring inflation down to its 2% target, while Chicago Fed President Austan Goolsbee said the Fed has made significant progress in the fight against inflation.
Elsewhere, the euro fell on weak economic data in Germany, while the Australian dollar slid after the country’s central bank raised interest rates and signaled that this would be the last rate hike in the current tightening cycle.
The Japanese yen also weakened back above 150 against the greenback, a level that has worried traders in recent weeks as they looked for signs of intervention from Tokyo authorities.
The euro fell 0.20% to $1.0695 after new data showed German industrial production fell more than expected in September.
The Australian dollar fell sharply after the Reserve Bank of Australia (RBA) raised interest rates by 25 basis points as expected, but also signaled that this would be the last rate hike.
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