USD, EUR, CAD, Japanese Yen, British Pound, exchange rates...; US economy shows signs of slowing down, greenback increases

Foreign exchange rates today, November 7: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... The US economy shows signs of slowing down, the greenback increases. The Japanese Yen and EUR decrease.

Tỷ giá ngoại tệ hôm nay 7/11: USD, EUR, CAD, Yen Nhật, Bảng Anh, tỷ giá hối đoái...; Kinh tế Mỹ có dấu hiệu chậm, đồng bạc xanh tăng

Foreign exchange rates today, November 7: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates...; The US economy shows signs of slowing down, the greenback increases. Illustrative photo. (Source: Reuters)

The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of November 7 was announced by the State Bank at 24,014 VND/USD, down 50 VND/USD compared to yesterday.

Domestic market:

Vietcombank :

USD exchange rate for buying is 24,130 VND/USD, selling is 24,500 VND/USD.

EUR exchange rate for buying is 25,464 VND/EUR and selling is 26,863 VND/EUR.

BIDV Bank:

USD exchange rate for buying is 24,198 VND/USD, selling is 24,498 VND/USD.

EUR exchange rate for buying is 25,603 VND/EUR, selling is 26,801 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	25,464.87	26,863.00	25,457.26
2	JPY	Japanese Yen	158.22	167.49	159.23
3	GBP	British Pound	29,402.42	30,654.32	29,239.23
4	AUD	Australian Dollar	15,442.02	16,099.51	15,257.97
5	CAD	Canadian Dollar	17,381.05	18,121.11	17,356.44
6	RUB	Russian Ruble	251.19	278.08	258.48
7	KRW	Korean Won	16.25	19.70	17.74
8	INR	Indian Rupee	291.69	303.37	289.28
9	HKD	Hong Kong Dollar (China)	3,031.74	3,160.82	3,078.82
10	CNY	Chinese Yuan China	3,275.55	3,415.53	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 0.24% to 105.26.

The greenback exchange rate in the world today increased. The Euro and the Japanese Yen were in opposite directions.

Specifically, the greenback rebounded in the last trading session, after falling to a near eight-week low, due to growing expectations that the US Federal Reserve (Fed) will continue to raise interest rates.

Fed Chairman Jerome Powell will speak on November 8 and 9, with markets waiting to see if he will maintain the same dovish stance he did at the Fed’s two-day meeting last week. Comments from other Fed officials will also be closely watched for signs of further rate hikes.

Fed Governor Lisa Cook said on November 6 that she hopes the central bank's current target interest rate is enough to bring inflation back to the Fed's 2% target.

The weaker-than-expected jobs growth in October reinforced the view that the U.S. economy is slowing, which should prompt the Fed to keep interest rates steady. The next focus for markets will likely be October consumer price inflation data due next week.

“Next week’s CPI numbers will be the best gauge of whether the Fed needs to raise rates again,” said Bipan Rai, head of North American FX strategy at CIBC Capital Markets in Toronto, Canada.

Elsewhere, the euro fell 0.06 percent to $1.0723. Economic weakness in the euro zone could limit the common currency’s gains against the greenback. A survey on November 6 showed the risk of a recession in euro zone business activity.

Meanwhile, the US dollar rose 0.41% to 149.98 yen. The Japanese yen hit 151.74 per dollar last week, approaching its October 2022 low, which helped spur intervention by the Bank of Japan.

Source